Yesterday UK Construction PMI in March rose from 46.8 to 47.2. Despite the forecast was 47.7, the index proved that performance of the UK economy is better than European one.
Today at 12:30 GMT+4 UK Services PMI in March is published, it is estimated to be 51.4 vs. 51.8 in the previous month. At 15:00 GMT+4 BoE MPC Interest Rate Announcement is scheduled.
Technically, the price has stopped before the Fibonacci extension on the H4 and now it is in the range 1.5111 to 1.5157, so there is uncertainty about it and it will clear up when the relevant information is issued. If the yesterday’s high is tested, then it opens such targets as 1.5184 (the level of Fibonacci 236%), 1.5205 (the resistance of march 26 and April 1), 1.5223, the level of reaction 261.8%. If the level of 1.5111 is tested then bearish targets 1.5073, the level of Fibonacci 161.8% and 1.5028, the level of 138.2%, open.
The material has been provided by InstaForex Company – www.instaforex.com
Yesterday UK Construction PMI in March rose from 46.8 to 47.2. Despite the forecast was 47.7, the index proved that performance of the UK economy is better than European one.
Today at 12:30 GMT+4 UK Services PMI in March is published, it is estimated to be 51.4 vs. 51.8 in the previous month. At 15:00 GMT+4 BoE MPC Interest Rate Announcement is scheduled.
Technically, the price has stopped before the Fibonacci extension on the H4 and now it is in the range 1.5111 to 1.5157, so there is uncertainty about it and it will clear up when the relevant information is issued. If the yesterday’s high is tested, then it opens such targets as 1.5184 (the level of Fibonacci 236%), 1.5205 (the resistance of march 26 and April 1), 1.5223, the level of reaction 261.8%. If the level of 1.5111 is tested then bearish targets 1.5073, the level of Fibonacci 161.8% and 1.5028, the level of 138.2%, open.
The material has been provided by InstaForex Company – www.instaforex.com
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