The British pound is back to the September lows

November 9, 2015

The GBP/USD pair continues to fall, and the scale of sales is very significant and is observed for the third consecutive day.

The British Pound is weakening for the third day in a row, but it would all be well if not for the indicators of force from the "bears" in the GBP/USD pair. The current quote in the pair is 1.5127, and it is not far off from the September minimum of 1.5107.

The market was not limited to the reaction to yesterday's news. Today, the UK released statistics, which did not please the investors. Industrial production in September in the UK fell by 0.2% in September 2015 against the August growth of 0.9%. The yearly rate has appreciated only 1.1% against the previous growth of 1.8%.

Production in the manufacturing sector increased for the period by 0.8% versus growth of 0.4% and a similar forecast. Y/y a positive trend is visible here too, although the indicator is still in the negative zone. The index dipped 0.6% with its fall by 0.9% in August.

Investors are quite naturally upset with these weak figures: a reduction in the real estate sector could force the Bank of England to refrain from raising interest rates longer than expected at the moment.

Among everything else, tonight the exchange factor may well be triggered: capital markets are waiting for the publication of the US employment sector in October. If the statistics will be strong, the USD will strengthen its position and force the pound upgrade the minimum of six weeks.
 
RoboForex Analytical Department

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