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3 Sep 2015
GBP/USD dips further post-PMI
FXStreet (Edinburgh) - The selling pressure in the pound remains well and sound on Thursday, now sending GBP/USD to the vicinity of 1.5240 post-PMI.
GBP/USD softer on PMI
Spot has intensified its daily leg lower after the significant Services PMI in the UK missed expectations during August, coming in at 55.6 vs. 57.6 expected and down from July’s 57.4.
The pair is thus trading in 3-month lows around the mid-1.5200s and retreating for the second consecutive week ahead of the critical events ahead: the ECB meeting due later and US Payrolls due tomorrow (220k exp).
GBP/USD levels to watch
As of writing the pair is losing 0.28% at 1.5256 with the immediate support at 1.5238 (low Sep.3) followed by 1.5221 (low Jun.8) and then 1.5190 (low Jun.5). On the upside, a breakout of 1.5322 (high Sep.1) would target 1.5409 (high Sep.1) and finally 1.5443 (high Aug.28).
GBP/USD softer on PMI
Spot has intensified its daily leg lower after the significant Services PMI in the UK missed expectations during August, coming in at 55.6 vs. 57.6 expected and down from July’s 57.4.
The pair is thus trading in 3-month lows around the mid-1.5200s and retreating for the second consecutive week ahead of the critical events ahead: the ECB meeting due later and US Payrolls due tomorrow (220k exp).
GBP/USD levels to watch
As of writing the pair is losing 0.28% at 1.5256 with the immediate support at 1.5238 (low Sep.3) followed by 1.5221 (low Jun.8) and then 1.5190 (low Jun.5). On the upside, a breakout of 1.5322 (high Sep.1) would target 1.5409 (high Sep.1) and finally 1.5443 (high Aug.28).