UK Chancellor Sunak
The Office of Budget Responsibility (OBR) forecast for growth shows sharply lower growth for 2022 (vs October projections) and modestly lower in 2023, but see a rebound in at 2024:
- 2022 GDP growth of 3.8% versus 6.0% in October forecast
- 2023 GDP growth 1.8% versus 2.1% October
- 2024 2.1% versus 1.3% October
- 2025 1.8% versus 1.6% in October
- 2026 1.7% versus 1.7% October
The GBPUSD is modestly higher off support at the 100 hour MA and 38.2% retracement from the hourly chart near 1.3183 area. The price trades at 1.3194 currently.
