Britain’s services sector has significantly slowed down in August. The purchasing managers’ index dropped to 51.1 points, not too far from the contraction zone. GBP/USD manages to hold on to support for now. Early expectations stood on a slide from 55.4 to 54.3 points, similar to figures seen in previous months. This disappointment is the lowest score since December (which saw a one time drop to contraction) and the biggest drop in years. This completes the series of PMIs. The manufacturing sector is contracting, with the indicator standing below 50 points. The construction sector is still growing at a plausible pace. GBP/USD started the week with a Sunday gap below the 1.62 line, and temporarily fell below support at 1.6110. After the actual result didn’t point to contraction, the pair managed to secure this line, at least for now. Further support is at 1.60, followed by 1.5940. Resistance is now at 1.62. Tomorrow we have another important release: manufacturing production. Note that today’s holiday in the US is likely to slow things down later in the day. 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Forex News share Read Next GBP/USD Outlook – September 5-9 Forex crunch 10 years Britain's services sector has significantly slowed down in August. The purchasing managers' index dropped to 51.1 points, not too far from the contraction zone. GBP/USD manages to hold on to support for now. Early expectations stood on a slide from 55.4 to 54.3 points, similar to figures seen in previous months. This disappointment is the lowest score since December (which saw a one time drop to contraction) and the biggest drop in years. This completes the series of PMIs. The manufacturing sector is contracting, with the indicator standing below 50 points. The construction sector is still growing at a plausible… Top 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.
