GBPUSD. UK’s GDP Change Report (27 July 8:30 GMT)

Ever since the British decided to leave the European Union each new economic report presents particular importance. The GDP figures are key for evaluating the health of the economy.

Against all reason, many of the recent economic reports are showing that the condition of the UK’s economy is improving. 

CPI keeps increasing:

..while the level of unemployment is decreasing:

What it more, it was decided to keep the interest rate unchanged (=0.50%) on the last meeting of representatives of Bank of England and it had a positive impact on the value of Brittish Pound. Despite the geopolitical difficulties and risks, economy is developing quite will and there are no massive difficulties and problems, if we analyze the economic data of England.

GBPUSD chart:

There is a flat rate movement in a narrow price range on GBPUSD D1 chart. The value of the indicator of technical analysis “Relative Strength Index” is close to 50% and it means that there is no trend at the moment.

The lines of support and resistance are highlighted with yellow on a price chart.