GBP / USD is looking to get back above 1. 3900 lately, while the US dollar remains strong against a wide basket of currencies.
The U. S. Index U. S. It has controlled stabilizing above the 92 point and continues its attempts to stabilize above the next resistance at 92. 15 Should the US index. U. S. Break above this point, it will head towards EMA resistance 20 at 92. 30, which will be bearish for GBP/USD.
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Today, forex investors will have the opportunity to take a look at the final reading of the UK manufacturing PMI report for July. Analysts expect the UK production PMI to have fallen from 63. 9 in June to 60. 4 in July.
In the US, the production PMI is expected to go from 62. 1 in June to 63. 1 in July. Traders will also pay attention to the ISM Manufacturing PMI report, which is expected to show that the ISM Manufacturing PMI increased from 60. 6 in June to 60. 9 in July. .
GBP/USD has recently returned above 1. 3900. Si this attempt succeeds, GBP/USD will be tested at the next resistance point which is at 1. 3920.
A successful resistance check at 1. 3920 will pave the way for the next resistance check at 1. 3950. Si GBP/USD rises above 1. 3950, will head towards the resistance point which is close to the recent highs at 1. 3980. pave the way for the next resistance at 1. 4000.
On the other hand, the closest point for GBP/USD is at EMA 50 at 1. 3880 If GBP/USD is below this point, it will head to the next point at 1. 3865.
A successful check of 1. 3865 will push GBP/USD towards the one at EMA 50 at 1. 3850. If GBP/USD manages to stabilize below 1. 3850, it will move towards 1. 3835.
For a review of all of today’s economic events, check out our economic calendar.