GBP/USD Forecast: weak data weighs on Pound

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Apr 1, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    The GBP/USD pair trades at a fresh 3-day low, as the UK Markit manufacturing PMI resulted worse-than-expected in March, printing 51.0 against the 51.2 forecast. The figure however, showed a slight improvement from February's reading, at 50.8. The downward move, however, has been limited, as market is waiting for the US Nonfarm Payroll report before taking larger positions. Currently around 1.4320, the GBP/USD pair is back below the 61.8% retracement of it latest bearish run, and the 4

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