- Tuesday, 02 February 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 03 February
Sterling was initially pushed lower in the course of the yesterday's session, but found area around 1.4320 level to be supportive enough in order to rebound and break once again above 1.44 handle, but with resistance near 1.4450 area. On Wednesday, main market mover will be ADP job figures. Pair is likely to find support around 1.43 handle, and resistance near 1.45 area so this is where we would place short-term buying and selling bids. Read more...
- Tuesday, 02 February 2016
- News
UK Construction PMI fell more than expected
- Monday, 01 February 2016
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 02 February
From the UK, yesterday, Manufacturing PMI data was published. The start of 2016 saw a modest improvement in the rate of growth in the UK manufacturing sector. This was highlighted by the seasonally adjusted Markit/CIPS Purchasing Manager’s Index rising to a three-month high of 52.9, up slightly from 52.1 in December. No change was expected. The PMI has remained above the neutral 50.0 mark for 34 successive months. The UK manufacturing sector registered an uptick in its rate of expansion at the start of 2016, shrugging off a number of potential headwinds, ranging from global financial market volatility to localised flooding in the North of the country.
Read more...- Monday, 01 February 2016
- Daily Technical Analysis
GBP/USD Daily Forecast – 02 February
Sterling managed to break higher in the course of the Monday's session, going all the way to 1.44 handle by the end of the session, where we can expect some amount of resistance based on last week's charts. On Tuesday, main market mover will be UK Construction PMI figures. Weaker than expected figures would cause further decline, with initial support around 1.43 level, while better than forecasted data would bring further rebound but with resistance around 1.4450 area.
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