U.K Construction PMI 54.2 Vs 57.5 Forecast,GBPUSD falls !

forex construction min
forex construction min

The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager’s Index (PMI) measures the activity level of purchasing managers in the construction industry. A reading above 50 indicates expansion in the construction industry; a reading below indicates contraction. It gives an indication about the health of the construction section in the UK.

The UK Construction PMI fell from 57.8 to 54.2 in the previous  month , analysts had expected UK Construction PMI to stand around 57.5 last month…

This development should put the cable under pressure ,eyes on main support at the 1.5080 levels , we might see hesitation (rebound) , but a cut will open 1.4970 next ….resistance 1.5174…

Update : The pair found resistance at the 1.5151 levels , stability below this level on a 4 hour closing basis will keep the pair under pressure and could break below 1.5080 levels , sustained breakout – 4 hour closing basis – above the 1.5151 levels will pave the way towards the 1.5303 levels …… 

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