FX.co ★ Review of GBP / USD pair on 03/07/2018

The pound was able to strengthen against the background of weak data on production orders in the U.S. as it declined by 1.4%. Moreover, they expected a decrease of 1.3%. Thus, the data turned out to be even worse than the forecasts. Labor productivity in the U.S. should show a decrease of 0.1% for the fourth quarter of 2017. Also, the volume of consumer lending is expected to reach $ 17.9 billion, while it amounted to $ 18.5 billion in the previous month. All indicators show a slowdown in the dynamics, which will render the dollar a disservice.

The GBP/USD pair will grow to 1.3950 by the end of the day.