The Services Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the services sector.
The U.K Services PMI (Apr) rises from 58.9 to 59.5 in the previous month , analysts had expected U.K Services PMI to make a small decline to 58.5 last month…
Despite the Cable is neutral , this development could be taken as an opportunity to buy GBPUSD on dips , immediate support comes at the 1.5165 levels , stability above this level on a 4 hour closing basis could mean a return to the 1.5250 levels ahead of the 1.5300 levels …
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CAUTION : Sterling under very great pressure because of the British election tomorrow … As a result UK data may not have a strong impact on the pair at least these days, The poll, expectations, the press, rumors etc……anything could send the pair strongly to any direction without a notice (Daily Chart supports this view strongly)……..so fluctuation in both sides is likely ….. be careful……..