Here are the key factors to keep in mind today for British Pound trades:

• UK BBA Loans for House Purchase: UK BBA Loans for House Purchase for July were reported at 41,587. Forex traders can compare this to UK BBA Loans for House Purchase for June which were reported at 40,385.
• UK GDP: The UK Preliminary GDP for the second-quarter increased by 0.3% quarterly and by 1.7% annualized. Economists predicted an increase of 0.3% and of 1.7%. Forex traders can compare this to the previous second-quarter GDP which increased by 0.3% quarterly and by 1.7% annualized. Private Consumption for the second-quarter increased by 0.1% quarterly, Government Spending by 0.6% quarterly and Gross Fixed Capital Formation by 0.7% quarterly. Economists predicted an increase of 0.3%, 0.3% and a decrease of 0.4%. Forex traders can compare this to previous second-quarter Private Consumption which increased by 0.4% quarterly, to Government Spending increased 0.7% quarterly and to Gross Fixed Capital Formation which increased by 1.0% quarterly. UK Exports increased by 0.7% quarterly and UK Imports increased by 0.7% quarterly. Economists predicted an increase of 1.0% and of 0.5%. Forex traders can compare this to previous second-quarter UK Exports which decreased by 0.7% quarterly and to UK Imports which increased by 1.7% quarterly. UK Total Business Investment for the second-quarter was reported flat at 0.0% quarterly and flat at 0.0% annualized. Economists predicted a flat reading of 0.0% and an increase of 0.3%. Forex traders can compare this to the previous UK Total Business Investment for the second-quarter which increased by 0.6% quarterly and by 0.7% annualized.
• UK Index of Services: UK Index of Services for June increased by 0.4% monthly and by 0.5% for the three-month-over-three-month period ending in June. Economists predicted an increase of 0.2% monthly and of 0.5% tri-monthly. Forex traders can compare this to the UK Index of Services for May which increased by 0.3% monthly by 0.5% for the three-month-over-three-month period ending in May.
• UK CBI Retailing Reported Sales and CBI Total Distributed Reported Sales: UK CBI Retailing Reported Sales for August were reported at -10 and CBI Total Distributed Reported Sales were reported at 2. Economists predicted a figure of 14 and 16. Forex traders can compare this to UK CBI Retailing Reported Sales for July which were reported at 22 and to CBI Total Distributed Reported Sales which were reported at 21.

Here is the key factor to keep in mind today for US Dollar trades:

• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of August 19th are predicted at 238K and US Continuing Claims for the week of August 12th are predicted at 1,950K. Forex traders can compare this to US Initial Jobless Claims for the week of August 12th which were reported at 232K and US Continuing Claims for the week of August 5th which were reported at 1,953K.
• US Existing Home Sales: US Existing Home Sales for July are predicted to increase by 0.5% monthly to 5.55M. Forex traders can compare this to US Existing Home Sales for June which decreased by 1.8% monthly to 5.52M.

Should price action for the GBPUSD remain inside the or breakout above the 1.2800 to 1.2840 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.2820
• Take Profit Zone: 1.3200 – 1.3240
• Stop Loss Level: 1.2720

Should price action for the GBPUSD breakdown below 1.2800 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.2770
• Take Profit Zone: 1.2575 – 1.2625
• Stop Loss Level: 1.2820

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