Britain’s services sector has stabilized: the PMI for this sector ticked up to 53.9 points. A result of 53.6 was expected. GBP/USD rises within range. Pound/dollar is now at 1.6060, about 40 pips higher than before the release. Resistance is still far, at 1.6110. After surprising with strong growth in March, the services sector slowed down significantly in the following months, as seen in the purchasing managers’ indices. This is Britain’s largest and most important sector, so this result is quite encouraging, after so many disappointing figures. Without strong growth here, there will be no improvement in jobs and a rate hike will remain far in the distance. The 50 point mark separates between growth and contraction. Britain’s construction sector didn’t disappoint, and kept on showing steady growth. The manufacturing sector, which saw the PMI released on Friday, disappointed with a significant slowdown. GBP/USD traded above the round number of 1.60 before the release. Significant support is found at 1.5910, which was a bottom last week. Resistance is found at 1.6110. This line was lost yesterday. For more on GBP/USD, see the British pound forecast. Britain’s Monetary Policy Committee, led by BOE Governor Mervyn King, is expected to leave the rates unchanged at 0.5% on Thursday and to continue doing so for another year. 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 July 5 – Sliding in Range on Weak Data, Yohay Elam 12 years Britain's services sector has stabilized: the PMI for this sector ticked up to 53.9 points. A result of 53.6 was expected. GBP/USD rises within range. Pound/dollar is now at 1.6060, about 40 pips higher than before the release. Resistance is still far, at 1.6110. After surprising with strong growth in March, the services sector slowed down significantly in the following months, as seen in the purchasing managers' indices. This is Britain's largest and most important sector, so this result is quite encouraging, after so many disappointing figures. Without strong growth here, there will be no improvement in jobs and a… 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.
