Yuriy Ukazkin
Forex news, GBPUSD. Last month rise of PMI services index in Great Britain provided short-term support to British national currency.
According to the research of Markit Economics and CIPS companies, PMI services index managed to rise even despite predictions about its possible decline.
Taking into consideration seasonal adjustment, last month PMI services index rose to 55.3 points against 53.8 points in February.
At the same time, analysts were predicting it to drop to 53.4 points.
It is worth mentioning that if PMI services index is over 50 points, this signals about the rise of economic activity, below – economic decline. Consequently, March results carry inference that British services sector keeps rising. Moreover, the index has been over 50 points for 15 months in a row.
Such results provided short-term support to GBPUSD currency pair. Quotations have risen from 1.5899 to 1.5909, but the descending dynamics of the pair continued afterwards.
Analytics Team of Masterforex-V Trading Academy gave its comments on situation at forex market. Pound index, correction downwards:
- pivot 2.6410;
- up=аС/С.
Yuriy Ukazkin
