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1 Sep 2015
GBP/USD deflates near 1.5300 on data
FXStreet (Edinburgh) - The offered tone is now picking up pace around the sterling, sending GBP/USD to test daily lows in the vicinity of 1.5300 the figure.
GBP/USD weaker post-UK data
The pair is facing further selling pressure today after the manufacturing PMI in the UK economy dropped to 51.5 for the month of August, missing initial estimates at 52.0 and coming down from July’s 51.9.
Further data in the British economy saw Mortgage Approvals at 68.764K vs. 68K expected and 66.582K previous, while M4 Money Supply has expanded at an annual pace of 0.6% in July and Consumer Credit ticked lower to £1.173 billion in July from June’s £1.22 billion.
GBP/USD levels to watch
As of writing the pair is losing 0.11% at 1.5328 with the immediate support at 1.5309 (low Sep.1) followed by 1.5257 (low Jun.10) and then 1.5221 (low Jun.8). On the upside, a breakout of 1.5409 (high Sep.1) would aim for 1.5443 (high Aug.28) and finally 1.5505 (high Aug.27).
GBP/USD weaker post-UK data
The pair is facing further selling pressure today after the manufacturing PMI in the UK economy dropped to 51.5 for the month of August, missing initial estimates at 52.0 and coming down from July’s 51.9.
Further data in the British economy saw Mortgage Approvals at 68.764K vs. 68K expected and 66.582K previous, while M4 Money Supply has expanded at an annual pace of 0.6% in July and Consumer Credit ticked lower to £1.173 billion in July from June’s £1.22 billion.
GBP/USD levels to watch
As of writing the pair is losing 0.11% at 1.5328 with the immediate support at 1.5309 (low Sep.1) followed by 1.5257 (low Jun.10) and then 1.5221 (low Jun.8). On the upside, a breakout of 1.5409 (high Sep.1) would aim for 1.5443 (high Aug.28) and finally 1.5505 (high Aug.27).