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1 Jun 2015
GBP/USD drops to lows on PMI
FXStreet (Edinburgh) - The sterling is losing further ground on Monday, pushing GBP/USD to daily lows in the vicinity of 1.5240.
GBP/USD weaker post-UK data
The pair dropped further after the final print of the manufacturing PMI in the British economy surprised investors to the downside during May, deflating to 52.0 vs. 52.5 expected, albeit a tad better than April’s 51.8 (revised).
GBP/USD levels to consider
As of writing the pair is down 0.34% at 1.5237 facing the next support at 1.5200 (psychological level) ahead of 1.5191 (low May 29) and finally 1.5167 (100-d MA). On the flip side, a breakout of 1.5305 (high Jun.1) would open the door to 1.5343 (high May 29) and then 1.5400 (psychological level).
GBP/USD weaker post-UK data
The pair dropped further after the final print of the manufacturing PMI in the British economy surprised investors to the downside during May, deflating to 52.0 vs. 52.5 expected, albeit a tad better than April’s 51.8 (revised).
GBP/USD levels to consider
As of writing the pair is down 0.34% at 1.5237 facing the next support at 1.5200 (psychological level) ahead of 1.5191 (low May 29) and finally 1.5167 (100-d MA). On the flip side, a breakout of 1.5305 (high Jun.1) would open the door to 1.5343 (high May 29) and then 1.5400 (psychological level).