According to the latest report published by Markit/CIPS the other day, the business activity level in Great Britain declined in September. At the same time, experts stat talking about a possible slowdown in the British economy.
In particular, the PMIs in all the sectors of the British economy shrank on average from 55,4 points in August down to 53,9 points in September. The actual figures failed to come up to analysts’ expectations. They turned out to be at the lowest level over the last 2.5 years.
As far as the service sector is concerned, this is the biggest sector in the UK economy. The thing is that the Service PMI dropped from 55,6 points in August all the way down to 53,3 points last month. The actual figures also failed to come up to analysts’ expectations of 56,0. They turned out to be at the lowest level since April 2013.
FOREX
Meanwhile, Masterforex-V Academy reports that GBPUSD is still developing the same mid-term recovery against the longer-term downtrend. The currency pair is busy making an upward move - wave A/B of level H15 or higher.
The key levels of resistance - 1.5244 + 1.5297/317, 1.5382
The key levels of support - 1.5139 + MF sloping channel
