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Hello Guys ,
The GBP/USD pair Broke a strong down trend on the 4H chart and from another one on the same fram , I think it is time for the pair rise up again maybe to reach the level 1.3390.
But be carefull it will be a strong move today due to the important news comming in " The Manufacturing Purchasing Managers' Index (PMI)" which will surely chake the markets .
The Manufacturing Purchasing Managers' Index (PMI) : measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
Manufacturing PMI (May)
Manufacturing PMI (May)
The GBP/USD pair Broke a strong down trend on the 4H chart and from another one on the same fram , I think it is time for the pair rise up again maybe to reach the level 1.3390.
But be carefull it will be a strong move today due to the important news comming in " The Manufacturing Purchasing Managers' Index (PMI)" which will surely chake the markets .
The Manufacturing Purchasing Managers' Index (PMI) : measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
