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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 211794, member: 80239"] [JUSTIFY][B]GBPUSD - The UK economy is rapidly slowing down[/B] The pound failed to continue active growth after the publication of poor macroeconomic data on Friday: the UK's gross domestic product (GDP) in July fell by 0.6% compared to the previous month, although in June, it showed a positive trend of 0.4%. The indicator declined by 0.1% in the second quarter, slowing down the value to 2.9% YoY from 8.7% a quarter earlier. Also to GDP, a significant weakening was recorded in the leading sectors of the economy: the volume of industrial production fell by 0.9%, and the volume of production in the manufacturing industry decreased by 1.6%. However, this is the first quarter when GDP is negative, which means formally a recession in the UK economy is not yet. [img]https://i.ibb.co/Kypwj12/gbpusd.png[/img] The pair continues to trade within the global downward channel, coming close to the resistance line, indicator Alligator's EMA oscillation range expands upwards, and the histogram of the AO oscillator forms rising bars in the buy zone. Resistance levels: 1.2240, 1.2630 | Support levels: 1.2048, 1.1761[/JUSTIFY] [/QUOTE]
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