3 Feb 2015
GBP/USD back to 1.5020 post-PMI
FXStreet (Edinburgh) - GBP/USD managed to recover the 1.5020 area following the better-than-expected Construction PMI in the UK economy.
GBP/USD testing lows near 1.5000
The pair returned to the 1.5020/25 band after the Construction PMI surprised investors advancing to 59.1 during January, leaving behind forecasts for a drop to 57.0 and December’s 57.6. Next of relevance in the UK docket will be the more significant Services PMI due tomorrow, with consensus expecting an improvement to 56.3 from 55.8.
GBP/USD key levels
The pair is now losing 0.05% at 1.5013 and a breach of 1.4972 (low Jan.26) would aim for 1.4952 (low Jan.23) and then 1.4900 (psychological handle). On the downside, the immediate support lines up at 1.5073 (10-d MA) followed by 1.5100 (psychological level) and finally 1.515 (21-d MA).
GBP/USD testing lows near 1.5000
The pair returned to the 1.5020/25 band after the Construction PMI surprised investors advancing to 59.1 during January, leaving behind forecasts for a drop to 57.0 and December’s 57.6. Next of relevance in the UK docket will be the more significant Services PMI due tomorrow, with consensus expecting an improvement to 56.3 from 55.8.
GBP/USD key levels
The pair is now losing 0.05% at 1.5013 and a breach of 1.4972 (low Jan.26) would aim for 1.4952 (low Jan.23) and then 1.4900 (psychological handle). On the downside, the immediate support lines up at 1.5073 (10-d MA) followed by 1.5100 (psychological level) and finally 1.515 (21-d MA).