FX.co ★ Business sentiment in the UK is unstable

GBP / USD

On Friday, the pound sterling skillfully took advantage of mixed sentiment in Europe and the US, and with the support of growth by the British Manufacturing PMI from 53.9 to 54.4 in the May estimate (against the forecast for a decline to 53.5), the pound grew by 52 points. Also in the current situation, the pound has a clear advantage over the euro, until the US and the EU finally stop at any decision on trade tariffs. This reflected in market as the trend of the cross pair EUR / GBP declines.

Today, the business activity index in May construction sector is expected to decrease from 52.5 to 52.0. We are expecting the British pound to trade near the level of 1.3330.

* The presented market analysis is informative and does not constitute a guide to the transaction.