Home Analysis GBP/USD is directionless ahead of the major economic data report

GBP/USD is directionless ahead of the major economic data report

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GBPUSD is directionless ahead of the major economic data report - forexspacex.com

The British pound is directionless on Thursday morning in Asia ahead of the UK’s quarterly and yearly Gross Domestic Product (GDP) data report, which will be reported later today. The GBP posted a 0.4% gain on Wednesday after the bearish bias in the U.S. dollar amid the positive developments in Ukraine and Russian peace talks. According to financial analysts, the British pound is very vulnerable to a sharp rise in recession and may perform under pressure. Investors are also waiting for the US nonfarm payroll data report, set to be released this Friday. The GBP/USD is trading well below the key average price and is struggling to recover, therefore one must look for potential selling opportunities if the price fails to break the 1.31500 mark.

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