GBP News February 25th 2014 – Effect on London Market
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.