Browsing all articles tagged with Construction PMI
Jul
2

GBP/USD D1 Technical July 02

The structure or the Cable is not clear yet. Today range for the GBP is 1.5150-1.5270 level.  Bollinger bands are showing buy signal for the pair. There can be two scenario.

Firstly, If pair manage to break its support 1.5150 level and then it will allow pair to target 1.5100 level.  Secondly, if pair manage to hold its support level and H4 candle chart closure above support then it will take GBP/USD towards northward and pair will then target 1.5270 level which is today’s resistance.

High impact Data of GBP can affect the trend of Pair. Data like Construction PMI.

Jun
4

GBP/USD D1 Technical June 04

The long term trend for cable is bullish. Pair is expected to test its support 1.5260 level before moving further upward. Bollinger bands are providing buy signals for the pair.

Price action on 1.5260 level should be handle carefully. If GBP/USD manage to hold this level and H4 candle closure above this level then it will show bullish sign and cable will then continue its bullish trend towards 1.5400 level.

On the Contrary, If GBP/USD fails to hold its support level and H4 candle closure below 1.5260 level then pair will indicate lack of bullish potential and GBP/USD then dropped rapidly towards southward.

High impact News can affect the movement of GBP/USD. News like Construction PMI, Trade Balance.

May
2

GBP/USD D1 Technical May 02

The long term outlook remain bullish for GBP/USD. Yesterday GBP/USD manage to reached its physical level 1.5600. Now the resistance its around 1.5611 level. D1 is showing overbought zone for pair. So correction is expected.

There can be Two scenarios. First, GBP/USD move up and break its resistance and if  H4 candle close above 1.5611 level then cable is likely to got more bullish strength and continue its uppish movement.

Secondly, Price action on 1.5504 level should be watch. Above this level pair will remain in bullish trend. If GBP/USD manage to hold this level and H4 candle close above 1.5504 then it will provide again a good buy entry point.

High impact News can affect the trend of GBP/USD. News like Construction PMI, Trade Balance, Unemployment Claims.

Apr
3

GBP/USD D1 Technical April 03

Yesterday in late session cable got strong pull back and dropped upto 170 pips. GBP/USD is under pressure now. Pair will face its next support at 1.5020 level today. If pair manage to  breakthrough its support level then GBP will continue its bearish trend. On the contrary, If pair manage to hold 1.5020 level and H4 candle close above 1.5020 level then pair will gain start moving upward.

High impact News can affect the trend of GBP/USD. News like Construction PMI, ADP Non-Farm Employment Change, ISM Non-Manufacturing PMI.

Jan
3

GBP/USD D1 Technical January 03

Yesterday cable got a strong pull back from its resistance level and dropped up to 100 pips. Today’s support is at 1.6200 level. Price action on this level should be carefully watched. Break of level will allow pair to move further downward.

Later on high impact News can change the scenario. News like Construction PMI, ADP Non-Farm Employment Change, FOMC Meeting Minutes and Unemployment Claims.

Dec
4

GBP/USD D1 Technical December 04

As we said in our last techincal, If Cable breaks 1.6065 level it will then target 1.6100 -20 level. We are still looking bullish strength in GBP/USD. Today’s resistance lies at 1.6140 level and support around 1.6065 level. If pair manages to break 1.6140 level, it will take pair towards 1.6180 key level.

Later on High Impact news of Construction PMI affect the trend.

 

Nov
2

GBP/USD D1 Technical November 2

Yesterday due to negative result of Manufacturing PMI, GBP/USD dropped around 75 pips, and now it is moving southward to test its support at 1.6065 key level. If Cable manages to break 1.6065 level it will continue its downtrend and target 1.6000 level.
High impact data’s can affect the movement of GBP/USD. Data’s like,   Construction PMI, Non-Farm Employment Change and Unemployment Rate.