U.K Manufacturing PMI Fall 51.5 In Aug , GBPUSD Breaks Below 1.5347 Support !!

forex man
forex man

The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector.

The U.K Manufacturing PMI fell 51.5 , from 51.9 in the previous month , the indicator was expected to rise 52.0 in the last month.

Market Impact : As long as 1.5400 resistance holds on a daily closing basis, outlook in GBPUSD remains on the downside towards the 1.5347/1.5225 levels, above 1.5400 faces a recovery risk towards the 1.5460/1.5510 levels before the next fall.
Stability below 1.5347 will pave the way towards the 1.5225 levels.

Note that EURUSD also falls after negative UK data!!!


Update : As long as 1.5407 resistance holds on a 4-hour closing basis, Intraday outlook in GBPUSD remains on the downside towards the 1.5275/1.2525 levels. Above 1.5407 will open 1.5510 before the next fall. Note that a daily closing below 1.5473 followed by a 4 hour closing below 1.5330 will accelerate the bearish move towards the 1.5225 levels as daily as 4-hour charts suggest.

U_K Manufacturing PMI Fall