{"id":61449,"date":"2019-11-01T04:04:24","date_gmt":"2019-11-01T08:04:24","guid":{"rendered":"https:\/\/currencylive.com\/?p=61449"},"modified":"2019-11-01T08:51:44","modified_gmt":"2019-11-01T12:51:44","slug":"101378-gbp-nok-sterling-recovers-ground-against-the-krone-but-headwinds-still-a-risk","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101378-gbp-nok-sterling-recovers-ground-against-the-krone-but-headwinds-still-a-risk\/","title":{"rendered":"GBP\/NOK: Sterling Recovers Ground Against the Krone but Headwinds Still a Risk"},"content":{"rendered":"

The British pound regained some ground against the Norwegian krone yesterday. UK\u2019s political parties prepare for a general election in December, promising \u201cradical economic changes not seen in decades.\u201d<\/p>\n

Those reforms would come at a time of slowing economic growth in the UK. Economic activity rose at more than 2% before the Brexit referendum. The growth rate is expected to slow down to only 1.2% (and in the second quarter, the UK economy actually shrank).<\/p>\n

Markets are now awaiting UK\u2019s PMI for the manufacturing sector, expecting the sixth-straight monthly contraction since June.<\/p>\n

A possible headwind for the pound could also be Trump\u2019s comments that, under the current Brexit deal, the UK could have it difficult to strike a trade deal with the United States later on.<\/p>\n

Brent crude was extending its losses for the fourth consecutive day. This helped to push the GBP\/NOK pair higher in yesterday\u2019s trade. Economic uncertainty and fading trade war hopes increased selling pressure on oil.<\/p>\n

The Asian session left the pair mostly unchanged, but we see a symmetrical triangle forming in the last two days. The break of which could lead to much-needed volatility in the GBP\/NOK market.<\/p>\n

To the upside, buyers could have a hard time trying to push the price above the October high of 11.97. Just below the 12.00 round-number resistance. The bearish RSI divergence also suggests that the recent upturn in pair is losing steam and that a correction might be ahead.<\/p>\n

Yesterday\u2019s low of 11.83 acts as a short-term support level to the downside. This is followed by the October 24 low of 11.69. As of 7:05 a.m. London time, the pound traded at 11.90 against the krone.<\/p>\n\n\n\n
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 <\/p>\n","protected":false},"excerpt":{"rendered":"

The British pound regained some ground against the Norwegian krone yesterday. UK\u2019s political parties prepare for a general election in December, promising \u201cradical economic changes not seen in decades.\u201d Those reforms would come at a time of slowing economic growth in the UK. Economic activity rose at more than 2% before the Brexit referendum. The […]<\/p>\n","protected":false},"author":163946598,"featured_media":3931,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1726],"tags":[1394,1728,1727,1764],"class_list":{"0":"post-61449","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-nok","9":"tag-gbp","10":"tag-nok","11":"tag-norwegian-krone","12":"tag-reforms"},"acf":[],"yoast_head":"\nGBP\/NOK: Sterling Recovers Ground Against the Krone but Headwinds Still a Risk - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101378-gbp-nok-sterling-recovers-ground-against-the-krone-but-headwinds-still-a-risk\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101378-gbp-nok-sterling-recovers-ground-against-the-krone-but-headwinds-still-a-risk\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101378-gbp-nok-sterling-recovers-ground-against-the-krone-but-headwinds-still-a-risk\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/NOK: Sterling Recovers Ground Against the Krone but Headwinds Still a Risk\",\"datePublished\":\"2019-11-01T08:04:24+00:00\",\"dateModified\":\"2019-11-01T12:51:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101378-gbp-nok-sterling-recovers-ground-against-the-krone-but-headwinds-still-a-risk\\\/\"},\"wordCount\":539,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101378-gbp-nok-sterling-recovers-ground-against-the-krone-but-headwinds-still-a-risk\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100148-gbp-usd-trump-un-speech.jpg\",\"keywords\":[\"gbp\",\"nok\",\"Norwegian Krone\",\"reforms\"],\"articleSection\":[\"GBP\",\"NOK\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101378-gbp-nok-sterling-recovers-ground-against-the-krone-but-headwinds-still-a-risk\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101378-gbp-nok-sterling-recovers-ground-against-the-krone-but-headwinds-still-a-risk\\\/\",\"name\":\"GBP\\\/NOK: Sterling Recovers Ground Against the Krone but Headwinds Still a Risk - 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