28.02.201810:21 Forex Analysis & Reviews: Overview of the currency pair GBP / USD for February 28, 2018

As expected, yesterday's US statistics could please few people. According to preliminary data, commodity stocks in warehouses of wholesale trade increased by 0.7%, and not by 0.3%, as expected. Orders for durable goods, instead of cutting by 2.0%, decreased by 3.7%. Only data on housing prices coincided with the forecasts, and their growth rates slowed from 6.4% to 6.3%. Nevertheless, the dollar continued to strengthen, and the pound lost nearly 100 points. Mr. Powell, who recently headed the Fed, is to blame. He stated not just that the regulator continued to tighten monetary policy further, but added that if the economy overheated, more drastic measures would be taken. That is, the refinancing rate will be increased even faster. And signs of overheating are already visible at full height, which once again confirmed yesterday's data.

Nevertheless, today the pound is unlikely to have the opportunity to improve its position. After all, the second estimate of US GDP for the fourth quarter should once again confirm the acceleration of economic growth from 2.3% to 2.5%. In this regard, the pair pound / dollar will fall to 1.3825. If GDP data disappoint investors, then a return to 1.4000 is likely.