The Pound is under pressure. Data on the UK manufacturing sector

The British pound continues to decline against the US dollar after the publication of weak data on business activity in the UK manufacturing sector.

• According to published data, the index of business activity in the manufacturing sector (PMI) declined in April to a mark of 53.9, against the March value at 54.9.

Technical analysis: The pair GBP/USD continues to move in a downtrend in the short term. At the moment, the price of the instrument has fallen below the support line of the rising channel on D1, which indicates a possible continuation of the downtrend in the short term. At the moment, the nearest support is the mark of 1.3640, in case of overcoming it one should expect the price to fall further to 1.3580, 1.3530.

Fig. GBP/USD. Current price – $ 1,3687

Alexander Sivtsov