In the United Kingdom, a significant decline in the business activity index in the manufacturing sector is expected, from 55.2 to 54.7 which seriously limits the prospects for the British pound. However, there is a high probability of consolidation at existing levels, as in the United States, sales of vehicles are expected to decrease from 17.1 million to 16.9 million which will have a negative impact on the dollar.
The pound/dollar currency pair was able to reach the level of 1.4000, however, slowed down the movement and form a stagnation which resulted in the subsequent pullback. We can probably assume a further bump in the level, but the course through 1.4145 will open in case of fixation above 1.4090 level.
* The presented market analysis is informative and does not constitute a guide to the transaction.
