1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

GBP/USD Forecast: Trading the UK services PMI report

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    The GBP/USD pair quickly recovered from the moderate weakness in London session on Wednesday to print a daily high of 1.4093. The spot closed at a 6-day high of 1.075 levels. The dismal UK construction PMI did weigh over the pair but failed to keep it below 1.3924 (76.4% Fibo expansion of July 2014 high-April 2015 low-June 2015 high). Consequently, the corrective rally remained intact and gained pace in the NY session on broad based USD weakness. The monthly ADP report in the US also received

    Continue reading...
     

Share This Page