The United Kingdom has shared with data regarding final revision of GDP figures for the fourth quarter of 2016. In terms of q/q the dynamics remained at +0.7%, while y/y slowed down to +1.9% (previous review + 2.0%). Pound did not really know how to react to the data.
Certainly the slipping of the annual dynamics could disappoint some investors. Reading the report, we see that service sector has experienced a slowdown for the first time since March, and the depreciation of household incomes by 0.4% may be a worry for the personal finances of the UK population (this may be due to inflationary pressures).
Turning to the charts, we see that the GBP/USD reacted at first with delicate slumps and these were continued on five-minute candles, allowing new daily lows to be set. Closing below 61.8% of the Fibonacci abolition allows us to believe that after retesting from below, depreciation will continue towards Thursday minima (around 1.2400):
EUR/GBP also reacts to the results of the UK’s gross domestic product. Bulls have so far stopped on the daily pivot point – but remember that at 11:00 there will be another important data on euro zone inflation and they may move the pair more strongly:
