UK Manufacturing PMI Rises 50.1 In May, Sell GBPUSD On Rebound !

The UK UK Manufacturing PMI rose 50.1, from 49.4 in the previous month, passing forecast of 94.6 in the last month….

This development may bring rebound before the next fall, immediate resistance comes at the 1.4513 levels (4-hour basis) ahead of the 1.4586 levels, support comes at the 1.4459 levels, a cut through the 1.4459 levels will open 1.4400 next, further down, support comes at the 1.4330 levels…Anyway: selling the pair on rebound is recommended!!!

Further Reading

GBPUSD Daily Forecast Jun 01 2016

Outlook in GBPUSD is neutral at the moment, the pair remains in a pullback mode and further down couldn't be ruled out as long as trades below the 1.4687 levels on a daily closing basis,...