GBP/USD Construction PMI Forecast
UK Construction is not the nations strongest sector and a poor or below expected read is the most likely outcome, 4 of the last 5 reads have been below average.
The likely outcome will be price continuing to head down and challenging a break of the historic consolidation zone around the 38.2% fib level.
A good read will confirm trader sentiment last Friday which was towards price moving up away from 38.2% zone with scope to push 50% off the back of a news catalyst like the PMI read tomorrow.
Both the up and downside are on the cards so trade post result as not to gamble.
The likely outcome will be price continuing to head down and challenging a break of the historic consolidation zone around the 38.2% fib level.
A good read will confirm trader sentiment last Friday which was towards price moving up away from 38.2% zone with scope to push 50% off the back of a news catalyst like the PMI read tomorrow.
Both the up and downside are on the cards so trade post result as not to gamble.
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