After many disappointing months, the British manufacturing production made a significant comeback – a rise of 1.8%. This beats high expectations for a rise of 1.1%, but GBP/USD hardly moves. As seen in the Manufacturing PMI, and to a lesser extent in the the services and construction PMIs, the British economy is still struggling. This comeback in production during June seems like a correction after the big fall, and not as a significant change in the course of the British economy. The wider figure of industrial production disappointed: it rose by only 0.9%, compared with +1.1% that was expected. It also experienced a big drop of 1.7% last month. It is depressed by too many bad figures and worries from Europe. The pair is now around the 1.60 line, just several pips higher than before the release. Later on today, the Bank of England is expected to leave the interest rate unchanged, yet again. Support is found at 1.5910, followed by 1.5820. Resistance is at 1.6110, followed by 1.62. For more about the GBP/USD, see the British pound forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next The ECB’s big gamble FxPro - Forex Broker 12 years After many disappointing months, the British manufacturing production made a significant comeback - a rise of 1.8%. This beats high expectations for a rise of 1.1%, but GBP/USD hardly moves. As seen in the Manufacturing PMI, and to a lesser extent in the the services and construction PMIs, the British economy is still struggling. This comeback in production during June seems like a correction after the big fall, and not as a significant change in the course of the British economy. The wider figure of industrial production disappointed: it rose by only 0.9%, compared with +1.1% that was expected. It… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
