The British received support from business activity - Ester Holdings
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The British received support from business activity

  • The index of business activity in the services sector of Great Britain is 54.0, the forecast is 52.9.

Business activity in the UK in May unexpectedly rose to the highs this year, thus indicating a slowdown in the decline of this indicator, and increasing demand for the British pound across the spectrum of the market.

Fig. 1. Business activity in the services sector of Great Britain

Despite considerable support, the British pound is limited in strengthening due to the inability to update yesterday’s high both against the American and against other world currencies. At the same time, the GBP/USD pair continues to maintain a downtrend and is limited to resistance levels: 1.3370 and 1.3400, from which the repulsion with a further decline is expected.

Fig. 2. GBP/USD. The current price is 1.3370.

Also, read: “How the economy of Great Britain changed after the announcement of Brexit and how it affected the pound

Hanzenko Anton

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