GBPUSD Analysis: Faster UK services sector decline bearish for GBPUSD

April 3, 2020

By IFCMarkets

Faster UK services sector decline bearish for GBPUSD

UK services sector recorded sharpest contraction for more than two decades: final Services PMI index was revised lower from a preliminary estimate of 35.7 to 34.5 in March, after a reading of 53.2 in February. This is bearish for GBPUSD.

IndicatorVALUESignal
RSINeutral
MACDSell
Donchian ChannelNeutral
MA(200)Buy
FractalsSell
Parabolic SARSell

 

Summary of technical analysis

OrderSell
Buy stopBelow 1.2261
Stop lossAbove 1.2394

Market Analysis provided by IFCMarkets