The picture: Trends are not broken.
The major new for the week as of today at 12:30 am London time is the release of the official report on employment.
Yesterday, the Industrial orders showed strong + 3% which is higher than forecasts. However, the ISM service sector came in disappointingly low 53.9 in July with the forecast of 56.9.
The service sector from the US economy has at least 60%.
The uptrend still persists despite the strong retracement of pound on Thursday.
The purchase order is positioned at 1.1845 with the target of 1.1945.
In the case of a reversal, the stop is placed at 1.1800 which adjusted from 1.1780.
The material has been provided by InstaForex Company – www.instaforex.com