Growth data can clarify the GBPUSD view! (Presence Of The Day )
GBPUSD parity, which attracts attention with its positive pricing behavior in the last period, has been nominated to be the most important asset of the day on the first day of the new week.
Basically in a day of bank holidays in Switzerland, France and Germany, a high level of importance data such as Gross Domestic Product (GDP) and Manufacturing Production from the UK should be followed for GBPUSD parity. GDP is expected to be -0.1% and Manufacturing Production is expected to be -1.1%. We can say that there is a negative expectation especially given that the previous production data is -0.9%.
In addition to the important data flow, the statements of the Monetary Policy Committee (MPC) members Tenreyro and Saunders during the day support the idea that GBPUSD is the important asset of the day.
Strategy; For the GBPUSD parity, the region 1.2715 – 1.2680, representing Alligator indicator lines, is important. News feeds from the UK during the day will clarify the idea of which side of the parity should be in this region. Although the positive data flow will support the positive outlook on the region concerned, the negative data flow may allow the short-term positive expectation to end. Under this condition, the levels of 1.2760 and 1.22815 in the positive scenario and 1.2645 and 1.2605 in the negative scenario may be on the agenda.
Pivot: 1,2680 – 1,2715
Support: 1,2680 – 1,2645 – 1,2605 – 1,2560
Resistance: 1,2715 – 1,2760 – 1,2815 – 1,2865