| Trade Idea GBP/USD intraday: the upside prevails. |
Pivot: 1.5875.
Our Preference: LONG positions above 1.5875 with 1.595 & 1.599 in sight. Alternative scenario: The downside penetration of 1.5875 will call for a slide towards 1.585 & 1.582. Comment: the pair remains on the upside and is approaching its resistance. |
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Better than expected manufacturing production and also producer prices pushed the pair higher.
Manufacturing production surprised with a rise of 3.2%, better than 2.1% that was predicted. It counters a plunge of 2.9% last month in this important yet volatile indicator.
Industrial production also surprised to the upside: a gain of 2.9% instead of 1.6% estimated. PPI Input rose by 2%, more than 1.6% that was predicted, and PPI Output also exceeded expectations with a rise of 0.5% instead of 0.2%.
Cable broke above 1.5910 that capped it for some time after the good news from Europe. Mario Draghi laid out concrete plans for buying bonds en masse and provided hope for stability in the euro-zone and especially in Spain.
Earlier this week, the UK saw better than expected data in most cases, with PMI rising nicely in the most important sector: services.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
Earlier this week, the UK saw better than expected data in most cases, with PMI rising nicely in the most important sector: services.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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