The British pound (GBP) inched higher against the US Dollar (USD) with an amount of 1.3800 today after the consecutive drop of three days.

There are three upcoming activities on the schedule that could help the GBP/USD pair gain momentum.

First, according to experts, the Gross Domestic Product from National Statistics may show a figure of 0.6 percent in July, compared to the previous month’s data of 1%.

The Gross Domestic Product (GDP) is a metric that measures the total value of all products and services generated in the United Kingdom.

Second, Industrial Production might register a figure of 0.4% in July, as per economists’ prediction. 

The Industrial Production Index monitors the industries and mines’ in the United Kingdom. Industrial output changes are a good measure of the manufacturing sector’s health.

Then, according to analysts, the GBP Market Manufacturing PMI increased by 0.1 percent in July compared to the previous month.

Manufacturing Production is a short-term measure of the strength of manufacturing activity in the United Kingdom, which accounts portion of the overall GDP.

Whereas, ILO Unemployment Rate will release on September 14, 2021. The Economists predict that it might increase the figure up to 4.8% compared to the month before data. 

There is a doubt that this news might break the forward momentum of GBPUSD.

Trade Idea

Considering the pair’s price movement over the last several days, purchasing it at current levels might result in some short- to medium-term profits.