GBP / USD
Yesterday did not introduced any news to the British currency market. Due to the pressure from the US dollar, the pound lost 63 points and technically reached the lows of the third week dated June 2016, as the historic referendum on the UK's withdrawal from the EU took place. In the current situation, the pound can only be supported by a breakthrough in the trade agreement between Britain and the EU, or through an increase in rate by the Bank of England, but none of this has yet been outlined. According to the estimates of BRC this morning, the price change in retail stores and fell from -1.0% YoY to -1.1% YoY. In the evening on the US, the jobs increase in the private sector from ADP for May is projected at 191 thousand. The growth in wholesale inventories for April is expected to increase by 0.4%. The second assessment of US GDP for the first quarter is expected to be unchanged at 2.3%, but according to initial estimates, an upward revision to 2.4% is possible. We are looking forward to a further decline in the British currency with the immediate target of 1.3135 / 65.
* The presented market analysis is informative and does not constitute a guide to the transaction.
