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Technical Analysis
Forex Market Commentary By TitanFX
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[QUOTE="titanfx, post: 82941, member: 33464"] [b]GBPUSD Signaling Bullish Continuation[/b] [B]Key Highlights[/B] • British Pound rocketed higher against the US Dollar, as the UK Industrial Production report came above the forecast. • UK Industrial Production released by the National Statistics registered a rise of 0.5% in March 2015, compared with the forecast of no change. • UK Manufacturing Production also posted a higher reading, as it rose by 0.4%. [B]UK Industrial Production[/B] Today in the UK, the Industrial Production report, which measures outputs of the UK factories and mines was released by the National Statistics. The market was not expecting any change in April 2015, compared to the preceding month. However, the outcome was above the forecast, as the UK Industrial Production managed to gain by 0.5%, which was also above the last increase of 0.1%. When we consider the year-over-year change, then the Industrial Production gained by 0.7% in April 2015, compared to the same month a year ago whereas the expectation was a 0.2% rise. The report stated that the “largest contribution to the quarterly growth came from electricity, gas, steam & air-conditioning output, which increased by 2.7%”. [IMG]http://s22.postimg.org/779fq29jl/GBPUSD_05_12_2015.png[/IMG] Moreover, the Manufacturing Production was also above the forecast, as it increased by 0.4% in April 2015, compared to the preceding month. When we consider the year-over-year change, then the Manufacturing Production rose by 1.1% in April 2015, compared to the same month a year ago whereas the expectation was a 1% increase. Overall, the outcome was above the forecast, and helped the GBPUSD pair to retain ground. ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]
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