UK manufacturing sector contraction slowed in October according to Markit’s Manufacturing PMI readings. Will the GBPUSD rise?
The price chart on 1-hour timeframe shows GBPUSD: H1 is trading sideways. The price is falling toward the 200-period moving average MA(200) which is level. And the RSI oscillator is at 50 level and has not reached the overbought zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.