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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.

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.

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.

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