1 Jul 2015
GBP/USD breaches 1.5700 on PMI
FXStreet (Edinburgh) - The offered tone is now accelerating around the sterling, sending GBP/USD to re-visit levels below the 1.5700 handle.
GBP/USD weaker after poor PMI
The pair is losing upside momentum after the manufacturing PMI came in below expectations at 51.4 during June, also ticking lower from May’s 51.9 (revised from 52.0). Spot is now challenging overnight lows near 1.5670 in the wake of the release, all ahead Carney’s speech due later.
With the Greece developments momentarily in the back burner, market participants will closely follow BoE’s Carney, ahead of the US ADP report and ISM Manufacturing.
GBP/USD relevant levels
As of writing the pair is losing 0.20% at 1.5681 with the immediate support at 1.5626 (low Jun.17) ahead of 1.5600 (psychological level) and finally 1.5542 (low Jun.16). On the upside, a break above 1.5775 (high Jun.30) would open the door to 1.5789 (high Jun.29) and then 1.5800 (psychological level).
GBP/USD weaker after poor PMI
The pair is losing upside momentum after the manufacturing PMI came in below expectations at 51.4 during June, also ticking lower from May’s 51.9 (revised from 52.0). Spot is now challenging overnight lows near 1.5670 in the wake of the release, all ahead Carney’s speech due later.
With the Greece developments momentarily in the back burner, market participants will closely follow BoE’s Carney, ahead of the US ADP report and ISM Manufacturing.
GBP/USD relevant levels
As of writing the pair is losing 0.20% at 1.5681 with the immediate support at 1.5626 (low Jun.17) ahead of 1.5600 (psychological level) and finally 1.5542 (low Jun.16). On the upside, a break above 1.5775 (high Jun.30) would open the door to 1.5789 (high Jun.29) and then 1.5800 (psychological level).