The Pound became weaker today after the ‘boring’ meeting between Boris Johnson and Ursula von der Leyen in Brussels. The meeting ended without a deal as the two pressed their teams to reach an agreement. This shifts the next solid deadline to Sunday.

On the economic calendar, the key events today will be UK GDP and production data that will come out at 10:00 GMT+3. Economists expect the data to show that industrial and manufacturing production dropped by 6.5% and 8.4% in November as the number of new Covid cases continued to rise. The ONS will also release the October trade numbers.

There have been two reports of anaphylaxis and one report of a possible allergic reaction following  COVID19 immunization in the UK.

News wrote that ”Britain’s medicine regulator has advised that people with a history of significant allergic reactions do not get Pfizer-BioNTech’s vaccine after two people reported adverse effects, England’s National Health Service (NHS) said on Wednesday.”

“As is common with new vaccines the MHRA (regulator) have advised on a precautionary basis that people with a significant history of allergic reactions do not receive this vaccination,” Stephen Powis, national Medical Director for the NHS, said.

On the  other hand, according to a  poll of economists, the US economic growth is likely to slow over the coming quarters while reaching the pre-COVID-19 trajectory in a year’s time.“But in response to an additional question, nearly two-thirds of economists, or 43 of 69, said US GDP would reach pre-COVID-19 levels within a year. Twenty-one said within two years and five said two or more years.” “The wider poll showed GDP for Q3 is expected to remain unrevised at a record 33.1% when the final data is issued later this month, after contracting at an annualized 31.4% pace in Q2.”

GBP/USD 4 Hour Chart:

Support: 1.3333 (S1), 1.3272 (S2), 1.3199 (S3).

Resistance: 1.3467 (R1), 1.3539 (R2), 1.3601 (R3).

Amidst all the catalysts pressurizing pound against greenback, we expect a bearish trend for GBP/USD.