GBPUSD. UK Preliminary GDP Report (26 August 8:30 GMT)

Ever since the chairmen of Bank of England decided to cut the refinancing rate from 1.50% to 1.25%:

..England’s economy started showing signs of growth – inflation, retail sales and the level of unemployment as well as Producer Price Index significantly improved:

..while profitability of long-term bonds decreased. This tells us that economic risks are now significantly lower.

If GDP figures remain on a good level it will positively affect the price of Pound.

GBPUSD chart:

After the decision of representatives of Bank of England to cut the rate from 0.50% to 0.25% there are no massive price changed on GBPUSD D1 chart and the rate is moving in a narrow price range.

What is more, indicator of technical analysis “Relative Strength Index” proves it.