rectangle
Comment:
The first index which could have an impact on the gbp is the The Manufacturing Purchasing Managers Index (PMI) released by both the Chartered Institute of Purchasing & Supply and the Markit Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the Manufacturing PMI is an important indicator of business conditions and the overall economic condition in UK. A result above 50 signals is bullish for the GBP, whereas a result below 50 is seen as bearish. The analysts are expecting an increase to 55.1(from 54.6 for Feb.).If this prediction meets the announced data and we think that there is a high chance that they meet,we advise opening long positions on gbp/usd and gbp/jpy.
Comment:
The reverse appeared earlier than expected,maybe now is the moment to open short positions,because the support was breached.
Comment:
Go long broke the triangle on 1 hour chart