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Pound/Dollar Again Under Pressure

Hourly

Weak UK PMI data for the service sector flipped the GBP/USD downwards. The day closed down. The daily candle is indicating a further fall. The bullish impulse has been extinguished. Due to the current situation, I’d say we’re going to see a renewal of the session minimum and a bounce to the LB on Tuesday.

Hourly Graph

Daily

UK PMI disappointed the buyers. The weight is once again tipped in the balance of the sellers. A break in 1.5125 will open the road to 1.50.

Daily Graph

Weekly

The sellers have won back all of their losses from the payrolls. The pound is again under pressure from UK stats. A break in 1.51 will see the pound’s fall hasten.

Weekly Graph

07 October, 07:24 (GMT+3)
Euro/Dollar: Expected Return to LB

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Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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