UK Services PMI (Mar) jumps to 58.9 , GBPUSD ; support is likely to hold !

UK services mk6aym
UK services mk6aym

The UK Services PMI (Mar) has jumped  to 58.9 , above expectation 57.0 , looks like U.K data protects EURUSD & GBPUSD from a sharp decline .

The GBPUSD has printed resistance at the 1.4919 levels , stability below this level will keep the pair under pressure , but in return ; support comes at the 1.4829 , a failure to hold below the 1.4829 levels on a 4 hour closing basis , could mean a return to the 1.1919 levels ………..

Conclusion : the key support 1..4828 is likely to hold , the pair may consolidate within 1.4829/1.4919 range before FOMC meeting tomorrow , anyway , a clear break above 1.4919 will open 1.5000..

Note that EURUSD could be support from UK data , and the key support 1.0833 could push the pair back to retest 1.0946 levels …before the next possible fall..

 

UK Services PMI (Mar) jumps to 58_9 , GBPUSD ; support is likely to hold !

MARKET DATA

UPCOMING ECONOMIC EVENTS

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