UK Services PMI (Sep) Falls 53.3, GBPUSD Pulls Back !

Forex servoces min
Forex servoces min

The Services Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the services sector.

The UK Services PMI (Sep) fell 53.3, from 55.6 in the previous month, the indicator was expected to rise to 56.00 in the last month.

GBPUSD:

Technical view: As long as 1.5240 resistance holds on a daily closing basis, outlook in GBPUSD remains on the downside towards the 1.5175 levels, a halt is likely and reversal may occur, however, a clear break below the 1.5175 levels will turn focus on the 1.5127 levels, with a break below the 1.5127 levels paving the way towards the 1.5035 levels.On the upside, sustained breakout above the 1.5240 level will turn focus on the 1.5365 levels. Conclusion: The GBPUSD continues to face downside threat as long as trades below the 1.5240 levels.

Market impact: This development should bring a pullback towards the key support 1.5175 , a halt will bring rebound towards the 1.5240 levels while a cut will open the 1.5127 levels.

GBPUSD-Oct 05

GBPJPY: 

Technical view: As long as 183.30 resistance holds on a daily closing basis, outlook in GBPJPY remains on the downside towards the 181.95 levels, a halt is likely and reversal may occur, however, a clear break below the 181.95 levels will turn focus on the 180.27 levels, with a break below the 128.27 levels paving the way towards the 178.57 levels. On the upside, sustained breakout above the 183.30 level will turn focus on the 186.30 levels. Conclusion: The GBPJPY continues to face downside threat as long as trades below the 183.30 levels.

Market impact:This development should bring a pullback towards the key support 181.95 l, a halt will bring rebound towards the 183.30 levels while a cut will open the 180.27levels.

GBPJPY-Oct 05

MARKET DATA

UPCOMING ECONOMIC EVENTS