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GBP/USD Outlook (5 November 2019)

British Pound / U.S. Dollar (FX:GBPUSD)  
JinDao_Tai  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Forex macro technical trend GBPUSD
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trendanalysis forex macro technical trend gbpusd
Overall, GBP/USD is trending upwards. Recently, GBP/USD has been ranging across.
The U.K. construction PMI data released was worse than forecasted. Not much price movement took place.
  • Construction PMI (Actual: 44.2, Forecast: 44.3, Previous: 43.3)
The U.K. services PMI data will be released at 1730 (SGT).
  • Services PMI (Forecast: 49.6, Previous: 49.5)
    If the data released is better than forecasted and greater than 50.0, the pound may strengthen.
    GBP/USD’s next support level is at 1.27400 and the next resistance level is at 1.29800.
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