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Falling trend Prevails,:
The falling trend and weakness of GBP/USD prevails. The downward trend of the said pair has not ended yet. However the recent situation is leading to a reversal in the price movement. In spite of the fact that the fall of the pair is extending still safe haven manages to climb higher.
Falling Trend of GBP/USD:
One of the major factors that are extending the falling trend of the GBP/USD is the stimulus plan of USA. The current trade scenario of the Forex market is hinting that Fed will likely to taper its monetary policy and stimulus measures with the economic recovery. The same measures have supported the rise of Dollar. The fiscal plan is paving the way of smooth growth for safe haven. The optimism about the trade of Dollar has attracted the traders which have resulted in the record high status of the stock indexes of USA. At the same time the treasury yields are increasing as well. This rising flight of USD has dragged its pair with Pound towards a lower trend.
GDP Data of UK:
Now the traders of the said pair are all focused on the data of UK about its Gross Domestic Price (GDP). It will be announced tomorrow. However the expected disappointment from the data is worrying the economists and traders. It is expected that the figures will reveal a huge expansion in the year to year comparison of GDP data. The economists are expecting a difference and rise of about 22.1% on yearly comparison with last year. Thus the data can act as a severe shock for the professionals as well. The current trading trend of GBP/USD is bearish. The price is moving along 1.38 while 54% traders currently prefer the net long trading positions for the time being.