Business activity in the construction sector of Great Britain
- The index of business activity in the construction sector of Great Britain is 52.5, the forecast is 52.0.
Business activity in the construction sector in the UK increased in May, thereby confirming a slowdown in the downward dynamics of this indicator in the last year. As a result, given the statistics, against the background of the positive dynamics of the stock indices, can support the pound.
Chart of business activity in the UK construction sector
It should be noted that the overall dynamics of the British pound remains restrainedly negative, which confirms the monthly downtrend and the inability of the GBP/USD to overcome significant resistance 1.3370-1.3400. Therefore, in the case of consolidating the pair below 1.3340-30, it is worth considering a deal for sale with targets near support: 1.3280 and 1.3250. Fixing a pair above the resistance cancels the expectation of a decline and calls into question the maintenance of the downtrend.
Fig. GBP/USD. Current price – 1.3370
Also, read: “Expanding Triangle – Once again about the Main”
Hanzenko Anton