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Riku Tanaka
in
Forex
April 2 18:30

GBP/USD: Volatility plunges just prior to market-moving data release

Retail bias close to moving to majority short. 
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GBP/USD Technical investigation, review, methodologies, and levels 
By and by, there was little change between the British pound and the dollar, as their comparative cost was bound by their range and neglected to arrive at either key pivot point, which resulted in neither currency offering a play for contrarian nor traditionalist traders. Of the financial information that is currently accessible, the UK's most recent PMI (Purchasing Managers Index) data was marginally above predictions at 47.8 and barely budged from a last month’s reduction. Information out of the UK will have little affect on the market today as attention is more focused on US unemployment claims, in order to evaluate the harm that COVID-19 has had on the US economy. Tomorrow's services PMIs for the UK (and the US) will be unveiled, which will have more significant impact on the market given the dependence on the sector, and the fact that it has been affected much more than manufacturing.