U.K Manufacturing Production down -0.8% In July, Buy GBP On Dips !

forex man
forex man

Manufacturing Production measures the change in the total inflation-adjusted value of output produced by manufacturers. Manufacturing accounts for approximately 80% of overall Industrial Production.

The U.K Manufacturing Production fell -0.8%, from 0.2% in the previous month, the indicator was expected to remain unchanged as previous month 0.2%.

Market Impact:

GBPUSD: The development is likely to bring a corrective pullback to the nearest support levels before the next rise, support comes at the 1.5350 levels ahead of the 1.5270 levels (main), resistance comes at the 1.5410/1.5460 levels.Recommendations: buying the pair on dips.

GBPJPY:The development is likely to bring a corrective pullback to the nearest support levels before the next rise, support comes at the 184.40 levels ahead of the 182.12 levels (main), resistance comes at the 186.35/187.45 levels.Recommendations: buying the pair on dips.

Further Reading

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MARKET DATA

UPCOMING ECONOMIC EVENTS