U.K Manufacturing Production (May) Falls -0.6% , GBPUSD Slides !

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 -0.6% , from -0.4% in the previous month, U.K Manufacturing Production was expected to rise to 0.1% last month.

Market Impact ; The pair has printed resistance at the 1.5604 levels….so…As long as 1.5604 resistance holds on a 4- hour closing basis, Intraday outlook in GBPUSD remains on the downside towards the 1.5670 levels, and possibly lower towards the 1.5425 levels, above 1.5604 faces a recovery risk towards the 1.5732 levels before the next fall.

U_K Manufacturing Production (May)