On Friday, the Great Britain Pound (GBP) fallen down against the US Dollar (USD), reducing the GBPUSD pair’s price to less than 1,3600, ahead of the announcement of the news of US Durable Goods Orders.

The US Census Bureau anticipates releasing the numbers for the US Durable Order Goods news on Thursday (December 24, 2020). According to economists, the US Durable Order Goods news registered a reading of 0.8 percent in November, compared to 1.3 percent in the month before.

The US Durable Goods Order news reflects the cost of orders placed with manufacturers of durable goods. Durable goods mean those having a useful life of more than 03 years. Therefore because sustainable goods manufacturing requires significant investments, the US Durable Goods Order stats are an important economic indicator. It also tells about the overall production activity levels of the country.

Generally speaking, a high reading is positive for the US Dollar, hence anticipates a bearish market for the GBPUSD pair ahead and vice versa.

As of this writing, the GBPUSD pair floats around 1.3506, with a few support levels seen ahead on the daily chart frame. The expected support levels where the price is likely to find some sustainability.

Conclusion

In the short to medium term, buying the GBPUSD pair around the current levels may be a worthwhile decision, considering the pair’s economic outlook over the past few days.