According to the data provided by the Office for National Statistics, the UK's industrial production figures increased by 0,9% relative to January 2014. In February 2014, the industrial output reached the highest level since June 2013. As far as the annual report is concerned, the increase reached 2,7%.
According to the recent report conducted by Bloomberg, the respondents had expected +0,3% m/m and 2,2% y/y on average.
The British manufacturing industry also gained some strength during the reporting period. In particular, the figures indicated a 1% increase relative to the previous reporting period. The year-over-year increase was equal to 3,8%. The experts had expected +0.3% and +3.1% respectively.
It turns out that the British economy is gradually gaining strength and recovering from the prolonged recession seen over the last couple of years.
Meanwhile, Masterforex-V Academy analyzed GBPUSD to find out the near-term prospects of the mentioned currency pair. On April 10th, the British Pound continued gaining value against the US Dollar and reached 1,6737, the experts report.
Having broken above a major level or resistance – the MF sloping channel – the price came close to the next major level or resistance - pivot 1,6782. If the rally continues, the next targets to watch are 1,6821 and 1,6555.
