Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815


Join Us in Just 1 Minute!

متاتریدر 4
متاتریدر 5

GBP/USD: Trading the Construction PMI Release (April 3, 2013)

The recently released manufacturing PMI for the United Kingdom sparked a massive selloff for the pound as the actual figure missed expectations. 

Take note that the BOE is currently watching business surveys very closely before they make their interest rate decision.

For today, the UK still has the construction PMI on tap and another disappointment could trigger another round of pound selling. The figure is expected to improve from 46.8 to 47.7, still indicating a contraction in the industry.


On the shorter-term time frames, GBP/USD shows tight consolidation around the 1.5100 handle as traders await the release of today’s set of data. A short below the Asian box around 1.5075 and aiming for the 1.5000 handle will be a good day trade if the construction PMI misses expectations.

On the other hand, going long above 1.5100 if the actual report comes in strong could also be a good day trade if price rallies back to 1.5150 or 1.5200 afterwards.

By Kate Curtis from Trader's Way

Any Questions?
Email Us:
قیمت ها
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

Stellar Lumens (XLM) now accepted for deposits and withdrawals

Trader's Way accepts Stellar Lumens (XLM) for deposits and withdrawals into all trading accounts.

Learn more

2021 Independence Day Holiday Trading Schedule

Due to the Independence Day holiday in the United States, the following instruments will close at the follo...

Learn more