Weak UK PMI data for the service sector flipped the GBP/USD downwards. The day closed down. The daily candle is indicating a further fall. The bullish impulse has been extinguished. Due to the current situation, I’d say we’re going to see a renewal of the session minimum and a bounce to the LB on Tuesday.
UK PMI disappointed the buyers. The weight is once again tipped in the balance of the sellers. A break in 1.5125 will open the road to 1.50.
The sellers have won back all of their losses from the payrolls. The pound is again under pressure from UK stats. A break in 1.51 will see the pound’s fall hasten.