2020-07-24 16:14
Market analysisGBP/USD Outlook (24 July 2020)
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Market analysis：
Overall, GBP/USD is trending upwards. Recently, GBP/USD bounced off the support zone of 1.26500.
The UK Retail Sales m/m data (Forecast: 8.3%, Previous: 12.0%) will be released later at 1400 (SGT).
Also, the UK flash PMI data will be released at 1630 (SGT).
-Flash Manufacturing PMI (Forecast: 52.0, Previous: 50.1)
-Flash Services PMI (Forecast: 51.4, Previous: 47.1 revised from 47.0)
GBP/USD’s next support zone is at 1.26500 and the next resistance zone is at 1.28000.
Business activities in the UK are expected to improve in July with the services industry starting to expand. If the released PMI data are better than forecasted, look for buying opportunities of GBP/USD.
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GBP/USD Outlook (24 July 2020)
Singapore | 2020-07-24 16:14Overall, GBP/USD is trending upwards. Recently, GBP/USD bounced off the support zone of 1.26500.
The UK Retail Sales m/m data (Forecast: 8.3%, Previous: 12.0%) will be released later at 1400 (SGT).
Also, the UK flash PMI data will be released at 1630 (SGT).
-Flash Manufacturing PMI (Forecast: 52.0, Previous: 50.1)
-Flash Services PMI (Forecast: 51.4, Previous: 47.1 revised from 47.0)
GBP/USD’s next support zone is at 1.26500 and the next resistance zone is at 1.28000.
Business activities in the UK are expected to improve in July with the services industry starting to expand. If the released PMI data are better than forecasted, look for buying opportunities of GBP/USD.
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