GBPUSD Short and Longs (News)
Scenario 1: Both PMIs Better than Forecast
Actual Manufacturing PMI: 49.5 (Better than 48.8 forecast)
Actual Services PMI: 56.0 (Better than 55.2 forecast)
EUR/USD: Down - If both sectors perform better than expected, this might signal a stronger US economy, potentially leading to a stronger Dollar.
GBP/USD: Down - Similar to EUR/USD, a stronger US economic outlook could weaken GBP against USD.
USD/JPY: Up - Improved US PMI data might strengthen USD against JPY, especially if this leads to expectations of a tighter Fed policy.
Scenario 2: Both PMIs Worse than Forecast
Actual Manufacturing PMI: 48.0 (Worse than 48.8 forecast)
Actual Services PMI: 54.0 (Worse than 55.2 forecast)
EUR/USD: Up - If both sectors disappoint, this could indicate economic weakness in the US, leading to a weaker USD.
GBP/USD: Up - Weaker US data might make GBP relatively stronger, especially if UK economic indicators are not as disappointing.
USD/JPY: Down - A disappointing PMI might lead investors to question the US economic recovery, potentially weakening USD against JPY.
The Fib is just an example if we was to see a sell off it may come into play. If we not seeing a sell off the Fib will be non existent.
Actual Manufacturing PMI: 49.5 (Better than 48.8 forecast)
Actual Services PMI: 56.0 (Better than 55.2 forecast)
EUR/USD: Down - If both sectors perform better than expected, this might signal a stronger US economy, potentially leading to a stronger Dollar.
GBP/USD: Down - Similar to EUR/USD, a stronger US economic outlook could weaken GBP against USD.
USD/JPY: Up - Improved US PMI data might strengthen USD against JPY, especially if this leads to expectations of a tighter Fed policy.
Scenario 2: Both PMIs Worse than Forecast
Actual Manufacturing PMI: 48.0 (Worse than 48.8 forecast)
Actual Services PMI: 54.0 (Worse than 55.2 forecast)
EUR/USD: Up - If both sectors disappoint, this could indicate economic weakness in the US, leading to a weaker USD.
GBP/USD: Up - Weaker US data might make GBP relatively stronger, especially if UK economic indicators are not as disappointing.
USD/JPY: Down - A disappointing PMI might lead investors to question the US economic recovery, potentially weakening USD against JPY.
The Fib is just an example if we was to see a sell off it may come into play. If we not seeing a sell off the Fib will be non existent.
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