ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPUSD hit the lowest level of the last 5 months
According to data released today by IHS Markit for the UK, PMI grew but stayed below forecasts, showing the loss of momentum in economic recovery. In addition, expectations that the Bank of England will not be as hawkish as the US Federal Reserve brought strong sales in the pound. Along with the strong stance of US dollar in the financial markets the pair hit the lowest level of the last 5 months and if it stays below 1.2980, we will follow 1.2865 and 1.2815. Further bearish moves may deepen to 1.2755 the lowest level of the last 2.5 years.
