See also
04.06.2025 05:21 AMYesterday, as the US dollar index strengthened by 0.53%, the British pound fell by 27 pips. However, this decline could already be offset during today's Asian session, as yesterday's US data came out weak: industrial orders for April dropped by 3.7%, core durable goods orders shrank by 7.5%, and car sales fell by 9.38% for the month.
After the price consolidates above the 1.3635 level (a consolidation is necessary because the price channel line is located above this level), the target of the upper boundary of the channel around 1.3790 will open up — or slightly higher, the target level of 1.3834.
On the four-hour chart, the price repeated a false breakout pattern below the MACD line. The Marlin oscillator's upward reversal from the zero line suggests that a third false dip below the MACD line is now unlikely.
The UK's May business activity indicators will be published today. The Services PMI forecast is 50.2 versus 49.0 in April, and the Composite PMI forecast is 49.4 versus April's 48.5. We expect the price to reach the first target of 1.3635.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
