GBP Fundamental Analysis
GBP's current outlook score of 54 shows that the long-term outlook is bullish; traders with a trading timeline of 6 months of more should be looking to position into long GBP.
The latest 10 economic indicators released out of United Kingdom have added -1 to the total Fundamental Outlook score of GBP. This represents a moderate pace of decline in recent months. More specifically, the most recent economic release with the greatest impact for GBP was the UK Retail Sales , which took place on April 21, 2017 at 8:30am GMT. The Deviation for the UK Retail Sales is 0.5% and the Forecast at the time was -0.3%. The actual figure came in at -1.8%, which was a negative surprise for GBP.
Although the current score for GBP is 54, please understand that this merely reflects the long-term view based on official economic data out of United Kingdom. This outlook score does not account for market sentiment, namely risk appetite or risk aversion, order flows, or any breaking news that has the potential of changing the short-term market trend.
Fundamental Outlook Score is meant to be used as a direction confirmation tool, the idea behind this indicator is the sum of the effects of market sentiments into an easy to understand format. The proper use of this tool is to pre-qualify your trade. In the case of GBP, which has a high score, your bias would be to buy it especially against currencies with weaker outlook score. This DOES NOT MEAN you should trade in the direction of the score blindly, but use it to filter out other trading signals that may tell you to go in the opposite direction... I believe ultimately the market will follow the fundamentals, and that's the key to Fundamental Outlook Score. Click here for more information and detailed explanation on Fundamental Forex Outlook.
Recent Economic Indicators And Impact Score For United Kingdom