Alex von Stachelkopf
The UK’s Manufacturing PMI declined down to 56.7 points in September while investors had expected 57.3 points. Therefore, the figures came out worse than expected. In August, the data also decline from 57,2 down to 57,1.
Even though the latest economic figures indicate some recovery in the British economy, the process cannon be called sable and confident.
Technically, if to take a look at the daily chart of GBPUSD, we can see that the British Pound has been rallying against the US Dollar since midsummer. Moreover, the mentioned rally has been without major retracements since early September. Experts say that there are first signs of a reversal pattern. Still, at this point, we cannot be 100% sure about any trend changes. However, the Binary Options Department of Masterforex-V Academy, we may expect at least a retracement move in the short run.
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Alex von Stachelkopf
