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2 Jan 2015
GBP/USD falls below 5-DMA ahead of UK PMI data
FXStreet (Mumbai) - The GBP/USD weakened today to trade below the 5-DMA located 1.5556 ahead of the UK PMI data which is likely to show a minor improvement in the manufacturing activity.
The pair currently trades at 1.5542 levels, compared to the previous session’s close of 1.5587 levels. The Pound weakened against the US dollar more or less in line with the other major currencies. Investors now await the final print of the UK manufacturing PMI data, which is likely to come-in at 53.6, compared to the preliminary reading of 53.5. A strong PMI reading may see the pair erased part of its losses today.
GBP/USD Technical Levels
The immediate resistance is located at 1.5556, above which gains could be extended to 1.56 levels. Meanwhile, support is seen at 1.5513 and 1.5486 levels.
The pair currently trades at 1.5542 levels, compared to the previous session’s close of 1.5587 levels. The Pound weakened against the US dollar more or less in line with the other major currencies. Investors now await the final print of the UK manufacturing PMI data, which is likely to come-in at 53.6, compared to the preliminary reading of 53.5. A strong PMI reading may see the pair erased part of its losses today.
GBP/USD Technical Levels
The immediate resistance is located at 1.5556, above which gains could be extended to 1.56 levels. Meanwhile, support is seen at 1.5513 and 1.5486 levels.