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"There is little evidence here that weaker global growth or a stronger dollar has hurt U.S. manufacturing."
- RDQ Economics (based on Reuters)
Pair's Outlook
The GBP/USD cross has failed to surpass the monthly PP at 1.5755 repeatedly and that has dragged the pair below the weekly PP that is located at 1.5672. Moreover, the majority of the daily and weekly technicals are pointing to the downside; therefore, with this additional pressure the pair is likely to return to trade in the boundaries of the longer-term downtrend.
Traders' Sentiment
The sentiment of the SWFX traders' has changed from slightly bullish to completely neutral, as a identical number of traders have opened long and short positions. Also, the share of buy commands has narrowed, and the amount of buy orders dropped from 71% to 50%.
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