Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Cable trades lower on weak UK Construction PMI, good to sell on rallies

Cable breaks minor support 1.5050 after release of weaker than expected UK Construction PMI.

  • UK Construction PMI came at 55.3 in Nov compared to forecast of 58.2. Sterling falls till 1.50316 after weaker PMI data.
  • Intraday Trend - Bearish
  • The pair has broken major intraday support 1.5050 and confirms minor weakness, a decline till 1.5000 is possible.
  • On the higher side major resistance is around 1.5105 and break above targets 1.5130/1.5160.

It is good to sell on rallies around 1.5050-055 with SL around 1.5080 for the TP of 1.5000/1.4980 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.