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GBP News February 25th 2014 – Effect on London Market

February 26
09:49 2014

GBP news almost on par with the forecast estimates. GDP q/q hits spot on @ 0.7% followed by a slight 0.2% decrease in Business Investment q/q.  Index of Service comes in right at the predicted 0.8%.

Second Estimate GDP q/q – 0.7% 0.7% 0.7%
Prelim Business Investment q/q – 2.4% 2.6% 2.0%
Index of Services 3m/3m – 0.8% 0.8% 0.8%

Just after the results became public we had a 35 pip candle spread pushing price up to the 1.6700 mark, making a new daily high on the GBPUSD. Is this the setup for the run down to come after the test of the Big Round Number? Keep an eye out as it is without a doubt a level of interest for manipulation to take place.


About Author

Sterling Suhr

Sterling Suhr

Hey everyone, my name is Sterling Suhr. You and I more than likely have quite a bit in common when it comes to Forex trading. Like most, I started trading Forex and thought it would be rather easy.Everything I read said it would make you profitable so why wouldn't I believe it Forex trading was easy? The unfortunate part is that belief, and the hope that goes along with it pushed me into buying every scam Forex product there was. I've tried every EA, software, strategy, chart pattern, candle pattern, signal service, etc, all with negative results. The bottom line is mainstream Forex trading strategy will continue to fail retail traders. It wasn't until I realized this point did I begin to see success.On a personal note I currently reside in South Western Michigan. I personally love this part of the country and enjoy having a taste of all four seasons. I was recently married in May of 2012 and Chad has given me a stiff warning to not have children:) As a personal hobby I enjoy aviation and really anything to do with the outdoors.

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