Current trend 

The Pound dropped due to low statistics for the construction sector on Thursday morning. Business confidence rose to 9-year highs, though.  The UK manufacturing sector volume increased by 0.6% in the first quarter 2015 which is much higher than the year-ago growth of 0.2%. The UK manufacturing business activity index grew up to 54.4 as compared to the previous value of 54.1, while the US ISM index decreased to 51.5 despite optimistic forecasts of 52.5.

UK banks are closed today due to Good Friday. The US is to publish data on unemployment rates and non-farm payrolls in March. In spite of a forecast of 244 thousand, the US economy has registered higher figures, therefore GBP/USD may be expected to drop.

Support and resistance

The nearest resistance level is a local high at 1.4871. A level of 1.4779 (yesterday's minimum) serves as support.

Trading tips 

Short positions should be opened from a level of 1.4830 with Take Profit at 1.4779 and Stop Loss at 1.4871.

GBP/USD: general review

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

Follow us in social networks!
Live Chat
Leave feedback