Forex Analysis & Reviews: Forecast and trading signals for GBP/USD for January 17. Detailed analysis of the pair's movement and trade deals. The British pound also ignored the reports

The GBP/USD currency pair showed a very good movement on Friday, almost identical to the EUR/USD pair. Most of the day there was a trend intraday movement with the formation of good trading signals. The volatility of the day was 90 points. It's not much for the pound, but it's quite good to trade profitably. In the Asian and early European trading sessions, bulls continued to bend their line and buy the pound. Recall that the pound has been rising for about a month, and not always in the presence of an appropriate fundamental background. However, this time in the middle of the European session, the bulls began to retreat from the market. Perhaps the "Friday factor" has worked, when some traders like to take part of the profits before the weekend. However, one way or another, market participants ignored the British statistics, among which there were quite important reports. In particular, reports on GDP and industrial production. Even if we discard the industrial production report, the GDP report could not be ignored. However, despite exceeding forecasts for all time periods, the bulls have already given up and the pound has not found the strength to show new growth. It is noteworthy that before the fall began, the pair reached the extreme level of 1.3741 perfectly in accuracy, forming a sell signal that simply could not be worked out. The pair began to slowly decline, which was absolutely not critical for it in the conditions of an upward trend. However, after overcoming the support level of 1.3706, the downward movement intensified. At the same time, US reports were published at the same time, which was not in favor of the US dollar. Weak retail sales, weak industrial production, weak consumer sentiment index. Nevertheless, it was the dollar that continued to rise in price under the influence of a strong sell signal. Even the extreme level of 1.3667 could not stop the quotes' decline at first. The pair only stopped falling a couple of hours remained before the end of the trading day and trading week. Thus, traders could make great money on this movement

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