Both Manufacturing PMI and Construction PMI came in stronger than expected last week. Today's release of Services PMI will show whether this pullback in business activity and sentiment is more broad based.
The pair broke above 50 DMA last week, for the first time after Brexit. It is currently trading at the upper end of its post-Brexit consolidation pattern. A hold above 1.3350 would put 1.35 into focus. 1.3275 is the initial support.
The pair broke above 50 DMA last week, for the first time after Brexit. It is currently trading at the upper end of its post-Brexit consolidation pattern. A hold above 1.3350 would put 1.35 into focus. 1.3275 is the initial support.