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GBP/USD Retesting Bullish Momentum Ahead of Construction PMI

4 July 2017 02:20 PM BDT
GBP/USD Retesting Bullish Momentum Ahead of Construction PMI

FxGrow Daily Technical Analysis – 04th July, 2017 By FxGrow Research & Analysis Team GBP/USD Retesting Bullish Momentum Ahead of Construction PMI GBP/USD received a hit yesterday with negative with UK manufacturing PMI causing the cable 90 pips loss 1.2932 low. On the other hand, greenback extended recovery session today, boosted by positive data yesterday with a 96.04 high, add more pressure on the cable. Technically, the pair is still in uptrend phase trading above 10 EMA at 1.2880. GBP/USD is currently trading 1.2940 intraday. Fundamentally, the pair awaits UK Construction PMI with absence of U.S Data today due to 4th of July holiday. The data will re test GBP/USD bullish trend depending on the ... For more in depth Research & Analysis please visit FxGrow. Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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