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GBP/USD: Trading the UK services PMI report

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair witnessed a bearish break from the daily charts on Wednesday. The first blow to Sterling came in the form of the construction PMI, which printed at multi-month lows. The cable fell to 1.50 levels and extended losses further to a session low of 1.4895 levels on the back of a stellar US ADP private sector employment report and hawkish comments from the Fed’s Yellen. Profit taking helped the pair recover off lows to end the day at 1.4950. Focus on UK services PMI The third and

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