The outlook of the $GBPUSD pair is neutral with a bearish bias.
The UK economy is slowing down as the rising inflation continues to hamper the Covid recovery. Recent data revealed that the country’s retail sales plummeted in March while consumer inflation remains at elevated levels. Also, there are some challenges emerging in the resilient housing sector.
The Office of National Statistics will publish important economic numbers today. Economists expect these numbers to show that the country’s trade deficit narrowed from 20 billion pounds to 18.5 billion pounds. In the same period, expectations are that the economy barely grew in March as prices rose.
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