The UK construction PMI overview The UK construction PMI for May is due for release today at 0830GMT, with the figure expected to come in weaker at 52.0 when compared to April’s 52.5 points. Deviation impact on GBP/USD Readers can find FX Street’s proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined between 10 and 45 pips in deviations up to 2 to -2, although in some cases, if notable enough, a deviation can fuel movements of up to 70 pips. How could affect GBP/USD? Technically, the pair remains on track to test the 1.3400 upside barrier, with further gains to accelerate towards 1.3414/23 (20-DMA/ May 24 high) should the UK construction activity data show an unexpected improvement in May. On a bigger-than-expected drop in the PMI figures, Should the GBP/USD pair could stall its recent recovery-mode and fall back to 1.3333/27 (5 and 10-DMA) support zone, below a test of 1.3252 (June 1 low) is inevitable. An upside surprise in the construction PMI data cannot be ruled out, given Friday’s unexpected rebound in the manufacturing sector PMI. The construction PMI has widely shown the similar behavior as the manufacturing and services PMIs, analysts Societe Generale pointed out in a research note. Key Notes GBP/USD seeking 1.34 ahead of UK’s PMI figures for Monday GBP/USD Forecast: upbeat UK PMI to help build on last week’s goodish rebound About the UK construction PMI The PMI Construction released by the Chartered Institute of Purchasing & Supply and Markit Economics shows business conditions in the UK construction sector. It is worth noting that the construction sector does not influence, either positively or negatively, the GDP as much as the Manufacturing sector does A result that values above 50 signals appreciates (or is bullish for) the GBP, whereas a result that values below 50 is seen as negative (or bearish). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY clings to gains near one-week tops, above mid-109.00s FX Street 5 years The UK construction PMI overview The UK construction PMI for May is due for release today at 0830GMT, with the figure expected to come in weaker at 52.0 when compared to April's 52.5 points. Deviation impact on GBP/USD Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined between 10 and 45 pips in deviations up to 2 to -2, although in some cases, if notable enough, a deviation can fuel movements of up to 70 pips. How could affect GBP/USD? Technically, the pair remains on track to… 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.
