The Great Britain Pound (GBP) has been declining for the last couple of days against the U.S. Dollar (USD). The currency has been struggling to recover for over a year. However, since the beginning of October, the pair has been consistently labeling a bullish candle on the graph but a recent release on Markit Manufacturing’s publication reveals the volatile economic condition of Great Britain with a reading of 48.3 this month, the lower the month before, i.e. 49.6. And it couldn’t meet the expectations of economists, which was 49.

Similarly, the Consumer Confidence GfK Group is a leading index that measures the level of consumer confidence in economic activity, today releasing the figure of -14 which is equal to the figure of the previous month, as this low level leads to the economic downturn.

Similarly, the average earnings of the households including bonuses in the UK also turned short of 02 points this quarter. It was 3.8%, the quarter before.

The prevailing condition of the net borrowing in the UK has also worsened with a figure of £10.509 B this month. It has decreased significantly as compared to £7.256 B, the previous month.

Conclusion

Trading GBPUSD might be a wise decision. It is anticipated to get strength in the near future. Avoiding to trade a pair for a long term position may work well.