FxGrow Daily Technical Analysis – 04th July, 2017
By FxGrow Research & Analysis Team
GBP/USD Retesting Bullish Momentum Ahead of Construction PMI
GBP/USD received a hit yesterday with negative with UK manufacturing PMI causing the cable 90 pips loss 1.2932 low. On the other hand, greenback extended recovery session today, boosted by positive data yesterday with a 96.04 high, add more pressure on the cable. Technically, the pair is still in uptrend phase trading above 10 EMA at 1.2880. GBP/USD is currently trading 1.2940 intraday.
Fundamentally, the pair awaits UK Construction PMI with absence of U.S Data today due to 4th of July holiday. The data will re test GBP/USD bullish trend depending on the ...
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