10.10.2018

GBPUSD price, news and analysis:

• Mixed UK data for August have failed to move the British Pound or London stocks very far.
• For traders in UK assets, Brexit continues to dominate trading and will likely determine their future direction.

Check out the IG Client Sentiment data to help you trade profitably.

UK economy little changed in August

The UK economy remained stable in August, according to the latest economic data.

Trade and construction figures were broadly worse than expected while industrial production numbers were broadly better than predicted. The GDP statistics for the month were mixed.

Overall, that sent GBPUSD modestly lower.

GBPUSD Price Chart, Five-Minute Timeframe (October 10, 2018)

Chart by IG

Looking ahead, the Brexit negotiations between the UK and the EU will likely determine the future direction of GBP and London stocks, as I explained in this webinar before and after the data.

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

• Analytical and educational webinars hosted several times per day,
• Trading guides to help you improve your trading performance,
• A guide specifically for those who are new to forex,
• And you can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.

— Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

Original from: www.dailyfx.com