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Markets are off to a shaky start this week, but can mid-tier data from the U.K. keep sterling losses at bay?

Here’s what’s coming up.

Monthly GDP (Mar. 11, 9:30 am GMT)

  • Change in the total value of all goods and services produced by the economy for the month
  • Growth figure to come in at 0.2% in January after earlier 0.3% uptick
  • Higher reading could spur a bounce for GBP while downbeat results could lead to more losses
  • Actual figure has been coming in weaker than expected for three out of the last five months

Manufacturing production (Mar. 11, 9:30 am GMT)

  • Change in the inflation-adjusted value of manufacturing output, which makes up 80% of total industrial production
  • Considered a leading indicator of economic performance
  • Uptick of 0.2% expected for January after earlier 0.3% increase

Technical snapshot

  • RSI reveals that most GBP pairs are approaching bearish territory, with GBP/AUD and GBP/CAD already indicating overbought conditions.
GBP Pairs RSI from MarketMilk
GBP Pairs RSI from MarketMilk
  • On the other hand, GBP/CHF and GBP/JPY are looking very bullish with oversold conditions.
  • Short-term trend strength analysis paints a different picture as it puts GBP/CHF and GBP/JPY in the bearish region while the rest are looking bullish.
GBP Pairs Trend Strength from MarketMilkGBP Pairs Trend Strength from MarketMilk
GBP Pairs Trend Strength from MarketMilk

Missed last week’s price action? Make sure you check out the GBP Weekly Review for Mar. 2 – 6!