British Pound is under the pressure due to trade conflicts, Br3exit uncertainty and weak macroeconomic data.

UK GDP growth declined to -0,4%, which is weaker than previous reading and expectations. Manufacturing Production index declined to -3,9%. As for the wages, hourly earnings growth reached 3,1% within the reported period, which is below previous reading, but higher than the expectations. Unemployment rate is still 3,8%.

GBP/USD tests the local lows at the moment. The currency pair is able to decline towards the 2018 lows if it breaks the local low. In case of a reverse signal, GBP/USD will test 1,2677.