The British pound rose slightly against the US Dollar during yesterday, and recovered from the lowest level in 15 weeks
within a correction step amid growing speculation to raise British interest rates.
Today the investors await the release of important data from the British economy concerning the U.K Manufacturing Production for the month of October.
So any disappointing reading will push the sterling to decline gain against the dollar .
We expect that the general trend of the pound dollar will remain bearish, and concerning the short term trading, we expect some recover of the prices which is supported by the formation of the 2B Bottom toward the first target of $1.5761, however this rally is just a correction step. Then the Cable will resume its general bearish trend toward the Fibonacci level 76.4 % means below $1.55, which corresponds to the 1.5390 level as the main target of the pair on the medium term trading.
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GBP/USD Recovered Slightly Ahead Of The U.K Manufacturing Production
Published 12/09/2014, 03:15 AM
Updated 05/14/2017, 06:45 AM
GBP/USD Recovered Slightly Ahead Of The U.K Manufacturing Production
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