Construction PMI in Britain scored 56.4 points . Early expectations were for a drop to 54.7. GBP/USD is now recovering early losses and escaping the support line. Last month’s score was 56.5 points, showing healthy growth in this sector, after it fell to a contraction a few months ago, together with the services sector (released tomorrow). Towards the end of 2010, there were expectations that the construction sector will boost the economy. The one sector that did push the economy forward was manufacturing. Purchasing managers’ index for this sector already passed the 60 point mark, meaning strong growth. But also this sector disappointed. Manufacturing PMI released last week, fell to 57.5. There are many doubts about the strength of the British economy, also in the first quarter. A significant rebound was expected after Q4 was horrible, with a 0.5% contraction in GDP. This updated figure for March gives some hopes. But this isn’t enough to create a rush and have the rate hike this week. It will probably wait. GBP/USD started off the week with a rise to 1.6175, moving away from the 1.6110 support line. It fell towards the release, but managed to remain above 1.6110. Levels to watch: 1.6110, 1.60 and 1.5940 on the downside, 1.6280 and 1.64 on the upside. For more levels, technical analysis and upcoming events, 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 USD/CHF Recovery Supported by Stock Market Gregor Horvat 12 years Construction PMI in Britain scored 56.4 points . Early expectations were for a drop to 54.7. GBP/USD is now recovering early losses and escaping the support line. Last month's score was 56.5 points, showing healthy growth in this sector, after it fell to a contraction a few months ago, together with the services sector (released tomorrow). Towards the end of 2010, there were expectations that the construction sector will boost the economy. The one sector that did push the economy forward was manufacturing. Purchasing managers' index for this sector already passed the 60 point mark, meaning strong growth. But also… 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.