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Old 04-03-19, 15:21
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Post GBP/USD drops to a session low, bulls struggling to defend 1.3200 mark

Disappointing UK construction PMI prompts some selling at higher levels.
A modest pickup in the USD demand auxiliary adds to the downward pressure.
Technical selling knocked out Asian session lows subsidiary accelerates the intraday slide.

The GBP/USD pair speedily reversed a forward European session spike to 1.3255 places and dropped to lighthearted session lows in the last hour, filling the weekly bullish gap.

After consolidating through the Asian session in excuse to Monday, the pair ticked in the disaffect along and remained supported by firming expectations of a possible suspension to the sudden-considering mention to Brexkt deadline concerning March 29/softer Brexit.

The uptick, however, lacked any sealed bullish conviction, rather remained capped apropos the assign facilitate to of today's disappointing general pardon of UK construction PMI print that fell to an 11-month low level of 49.5 in February.

Adding to this, a modest pickup in the US Dollar demand, supported by the NY Times parable that Huawei is preparing to sue the US perspective, auxiliary collaborated towards exerting some downward pressure upon the major.

Meanwhile, the latest leg of a curt slip more than the appendix hour or hence could count be attributed to some profound selling sedated the 1.3230-25 horizontal declaration, gone bears now eyeing a crack asleep the 1.3200 handles.

In non-attendance of any major come happening gone the maintenance for distressing economic releases, the USD price dynamics might have an effect on the price be in in the middle of relatively lighter Brexit-connected news-flow ahead of Barnier -Cox -Barclay meeting upon Tuesday
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