UK manufacturing decline slowing bullish for GBPUSD
Britain’s manufacturing sector continued contraction in November, albeit at the slower rate than expected. Will the GBPUSD rise?
The price chart on 1-hour timeframe shows GBPUSD: H1 is trading sideways. The price is rising above the 200-period moving average MA(200) which is level. And the RSI oscillator is above 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.