Finally some good news from Britain: the services sector, which is the most important one, has shown significant signs of growth in July, with Services PMI jumping to 55.4 points. This is much higher than 55.3 that was expected. GBP/USD breaks higher. Pound/dollar is now trading at 1.6363, up from resistance at around 1.63 before the release. Yet again, the move began just before 8:30 GMT – was it leaked once again? The manufacturing sector in Britain fell to contraction in July. The purchasing managers’ index for this sector dropped below the 50 point mark for the first time in a long time. On the other hand, the construction sector was OK, meeting expectations and scoring 53.5 points. All in all, despite the improved PMI in the services sector, a rate hike isn’t likely anytime soon. The overall situation remains weak. But as the whole world is slowing down, this positive number from Britain helps it outshine other currencies. Britain isn’t experiencing a bond market crash like many countries in Europe, and wasn’t close to a default like the US. Resistance appears at 1.6470, followed by 1.6550. Support is at 1.6280 – 1.63, followed by 1.62. For more on GBP/USD, see the Pound/dollar 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 EUR/USD Aug 3 – Breaking Higher on Rising Retail Sales, Yohay Elam 12 years Finally some good news from Britain: the services sector, which is the most important one, has shown significant signs of growth in July, with Services PMI jumping to 55.4 points. This is much higher than 55.3 that was expected. GBP/USD breaks higher. Pound/dollar is now trading at 1.6363, up from resistance at around 1.63 before the release. Yet again, the move began just before 8:30 GMT - was it leaked once again? The manufacturing sector in Britain fell to contraction in July. The purchasing managers' index for this sector dropped below the 50 point mark for the first time in… 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.
