Daily Exemplary Analysis of SGT Markets

Waiting for tomorrow news, regarding Job Market. Current Sentiment is bearish as UK Manufacturing Production change enters the negative area again and Last UK Services PMI, UK Construction PMI and UK Manufacturing PMI readings were worse than expected. Also last data regarding UK manufacturing and industrial production worse than expected along with UK GDP, Preliminary release. Same for UK Retail Sales. The only recent data on upbeat was UK CPI (Inflation).

British Trade Minister said that it is perfectly reasonable that people want to have some transitional period until the final agreement with UE will be reached. “But we can’t have a perpetual transitional period undermining the concept of Brexit itself,” he added.
The agreement between Conservative Party and Democratic Unionist Party is still occupying only the background of the global Sentiment on Pound.

Price started to drop as we expected, getting closer to 1.28 important Support and then regaining partially. Now we expect a confirmation down move with 1.283 fist stop and 1.2705 seconds.

Source: Daily Exemplary Analysis of SGT Markets