The cable has the chance to continue its strengthening today
The US ISM Manufacturing PMI was much worse than expected, 50.8 against the previous 51.8. The report confirmed the existence of problems in the US industry.
The market reacted with restraint to it. The economic growth may slow down, but it will also restrain the Fed from raising rates.
Today the UK is to publish data on Manufacturing PMI. It can help the pair GBP/USD continue its strengthening. The forecast assumes the growth of the indicator to 51.2%.
The US has no important economic data on the economic calendar today.
How to trade
The pair GBP/USD has the several key levels on the hourly chart: 1.4713, 1.4661, 1.4605. The short-term upward movement is possible in the range of 1.4661 - 1.4713. The downward movement is possible if the pair falls below 1.4605. We would buy call binary options from the current level.
Expiry time: 20:00 GMT