GBP / USD pair
On the last day of last year, the pound sterling "effort of will" rose by 125 points, entering the target range of 1.2810 / 80, which we consider as a guideline for opening the market during the New Year break. However, the market has outpaced our expectations for the day and is now falling. We believe that the price reversal to 1.2400 and 1.2300 took place. A completely declining condition forms when the price is fixed below the MACD line on the four-hour chart (1.2660). The immediate goal is to support the nested line of the 1.2485 price channel. This trend can help economic performance. The British Manufacturing PMI for December is expected to decline from 53.1 to 52.6 which will be published today. Tomorrow, the Construction PMI business activity in the construction sector is expected to decline from 53.4 to 52.9.
