British Manufacturing PMI printed 52.1 points, weaker than 54.2 that was expected. This reflects a further slowdown. GBP/USD drops sharply, losing support. GBP/USD now trades at 1.6417, down from almost 1.65 before the release. Support at 1.6430 was pierced through. The next support area is the region of 1.6280 to 1.63, which is still far. At the beginning of the year, the manufacturing sector led the British economy with strong growth. The manufacturing PMIs were above 60 points, indicating rapid expansion. This has significantly changed in March and in April. In March, the PMI dropped to 57.1 points, still high, but in April it already deteriorated to deteriorated 54.6 points. In addition, figures of the past 3 months were revised to the downside. GBP/USD was trading at around 1.65 before the release, rising from the 1.6430 line. Earlier in the week it already tackled the 1.6530 line, but couldn’t settle above it. Further resistance appears at 1.66. Support is at 1.63. For more analysis and upcoming events, see the GBP/USD forecast. More British data was released at the same time: Net Lending to Individuals exceeded expectations and rose by 1.2 billion, more than 1.1 billion expected. M4 Money Supply rose by only 0.1%, lower than +0.3% expected. Mortgage approvals also disappointed with only 45K, lower than 48K that was expected. 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 Vienna Initiative starts to receive the attention it FxPro - Forex Broker 12 years British Manufacturing PMI printed 52.1 points, weaker than 54.2 that was expected. This reflects a further slowdown. GBP/USD drops sharply, losing support. GBP/USD now trades at 1.6417, down from almost 1.65 before the release. Support at 1.6430 was pierced through. The next support area is the region of 1.6280 to 1.63, which is still far. At the beginning of the year, the manufacturing sector led the British economy with strong growth. The manufacturing PMIs were above 60 points, indicating rapid expansion. This has significantly changed in March and in April. In March, the PMI dropped to 57.1 points, still… 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.
