{"id":134945,"date":"2018-10-05T10:45:43","date_gmt":"2018-10-05T14:45:43","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=134945"},"modified":"2018-10-05T06:33:09","modified_gmt":"2018-10-05T10:33:09","slug":"gbpusd-forex-technical-analysis-weaker-uk-data-bearish-for-gbpusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/10\/gbpusd-forex-technical-analysis-weaker-uk-data-bearish-for-gbpusd\/","title":{"rendered":"GBPUSD Forex Technical Analysis – Weaker UK data bearish for GBPUSD"},"content":{"rendered":"
October 5, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Weaker UK data bearish for GBPUSD<\/strong><\/p>\n

UK construction and services sectors\u2019 expansion slowed more than expected in September. Will the GBPUSD <\/a> slide continue?<\/p><\/blockquote>\n

Recent UK data were weak: services sector expansion slowed more than expected as evidenced by decline of Markit\u2019s Services PMI to 53.9 in September from 54.3 when a reading of 54 was forecast. Construction sector expansion slowing was more rapid than expected as Construction PMI fell from 52.9 to 52.1 when a reading of 52.5 was expected. Another weak datapoint was the reduction in new car sales in September by 20.5% over the same period a year ago. Weaker UK data are bearish for GBPUSD.<\/p>\n

\"GBPUSD<\/p>\n

On the daily timeframe GBPUSD: D1 <\/b> is retreating after retracing to 3-month high two weeks ago. It is testing the 50-day average MA(50).<\/p>\n