Pound gets beaten while construction growth reaches a 7 month high

The construction PMI rose to 64, bettering estimates of 61.5 and last month`s figure of 62.4.

Surprisingly things have not been kind to the pound. GBP/USD has been seeing a downtrend all day as seen in the M1 chart above.

GBP/JPY started the day with a bullish tone but lost momentum in the afternoon. There was only one green candle as the data was made public and then downwards momentum continued.

I did not maximize my returns from the GBP/USD short I entered. I closed too early before the data not wanting to risk my unrealized gains.