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Today's UK data contains several bad things about consuming

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Consumption growth slowed down to 0.3% in the first quarter of 2017, from the previous 0.7% in the last quarter of 2016.

The number of approved housing loans declined in April for a third consecutive month.

The GDP data and the growth of services data that are the largest part of the economy were also lower than expected.

Inflation "bites" the consumer and this affects the economy.

Concerns over what deal Britain will be able to reach with its largest trading partner will also add tension to the slowing economy.

The GBP / USD price can not break the key resistance at 1.30, which confirms the negative sentiment.

Junior Trader Stefan Panteleev


 Varchev Traders

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