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GBP/USD Signal - GBP Markit Manufacturing PMI - 02 Nov 2020

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Signal Details
Entry Price: 
1.2920
Take Profit: 
1.2880
Stop Loss: 
1.2985
Direction: 
Sell
Result: 
Profit
How we trade
Average: 5 (2 votes)

GBP/USD is trading to the downside today prior to GBP Markit Manufacturing PMI. The PMI manufacturing released by both the Chartered Institute of Purchasing & Supply and Markit Economics is an indicator of the economic situation in the UK manufacturing sector. Technically the pair is trading below the 50 moving average, and we anticipate further downside on the GBP/USD into the 1.2880 level.

Submitted by Toni H. on Mon, 02 Nov 2020 00:46:17 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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