The UK’s Conference Board indexes showed an increase in August, the latest report indicates. At the same time, analysts expect the British economy to keep on growing in the near future.
Masterforex-V Academy reports that the LEI (Leading Economic Index) improved by 0,2% over the reporting period relative to July’s 112.6 points. The index grew after a 0,2% in drop seen both in June and July. At the same time, the LEI advanced by 0.1% over the course of March-August, which is equivalent to +0,2% in 12 months.
At the same time, the CEI (Coincident Economic Index) also advanced by 0,2% up to 106,3 points in August relative to July.
The complex analysis of the LEI and CEI indexes made by the experts makes it possible to expect further economic growth in the UK in the near future.
FOREX
In the meantime, the British Pound is still going down against the U.S. Dollar within the scope of the same long-term downtrend. In particular, GBPUSD is forming wave 3/C of level at least Daily2, Masterforex-V Academy reports.
The experts draw your attention to the fact that a break above the top of the descending MF sloping channel and MF pivot 1.5658 will indicate the end of the current bearish wave, thereby giving way to further local highs. Alternatively, a break below 1.5106 will send the price lower. If that’s the case, we are probably going to see the price testing .5086, 1.4976/58, 1.4895/70.
