Trading signals

GBP/USD

GBPUSD

UK PMI's fell short of expectations and sent the pound downwards. The pound weakness could extend further this week.

 

The main scenario assumes a recovery move to the area of 1.2900.

An alternative scenario is a decline to 1.2800.

 

Trading recommendations

 

Buy the Cable towards 1.2900 as soon as the rate leaves the mark 1.2850 behind.

A break below 1.2830 will show room for further downside towards 1.2800.

 

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