Wednesday, July 13, 2016

GBP/USD ratio is showing limited movement

The British pound has shown movement in both directions on Wednesday but is unchanged over the course of the day. GBP/USD is currently trading at 1.3260. This follows strong gains in the Tuesday session. On the release front, the BOE released its quarterly Credit Conditions Survey. In the US, there are no major releases on the schedule. Wednesday’s highlight is Crude Oil Inventories, with the estimate standing at -2.3 million barrels. On Thursday, the US will release two key events – PPI and Unemployment Claims.GBP/USD ratio is showing limited movement on Wednesday. Long positions have a slight majority (52%), indicative of slight trader bias towards GBP/USD moving higher.