- The pound fails to extend the gains against the dollar.
- UK data does not affect the pound, US figures are coming.
GBP / USD is falling on Thursday, ahead of US data and after Wednesday’s advance. A correction in the dollar led the pair to fall to the 1.3850 area, after failing to overcome 1.3875. Economic figures from the UK did not help the pound significantly.
The price rose on Wednesday and avoided a close below the 20-day moving average, which is still a support at 1.3830. The pound still faces a bearish bias in the short term, but for now controlled by the mentioned level and 1.3800. A consolidation below, would increase the pressures. Whereas a return above 1.3900 would leave GBP / USD positioned for further gains.
After data from the UK, the focus shifts to the US.
During the second quarter of 2021, the British economy expanded at a 4.8% rate, in line with expectations; and the June reading was 1%, above the 08% expected. The industrial production figures for June once again showed a rise (0.7%) above what was expected (0.3%). The data did not help the pound, which had a slight rise at the time of publication, without continuity afterwards.
Now the focus of the economic calendar shifts to the US. producer price index and the weekly report of unemployment benefit requests. Wednesday’s retail inflation figures sent the dollar down sharply and pushed GBP / USD from 1.3800 to closer to 1.3900.
Technical levels

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