Divergence and touch of Bollinger Bands - Expect Corrections
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Sterling was flat but still holding near a three-month high of $1.36 on Wednesday, after a survey showed that growth in Britain’s construction sector slowed last month. The PMI came in just below a median forecast of 52.5 in a Reuters poll of economists. However this price actions only a result of a weak Dollar. Watch out for some good news for Dollar and some bad news in Brexit negotiations. UK government and EU commision can have a significant influence in this pair.
Sterling was flat but still holding near a three-month high of $1.36 on Wednesday, after a survey showed that growth in Britain’s construction sector slowed last month. The PMI came in just below a median forecast of 52.5 in a Reuters poll of economists. However this price actions only a result of a weak Dollar. Watch out for some good news for Dollar and some bad news in Brexit negotiations. UK government and EU commision can have a significant influence in this pair.