2 Dec 2015
GBP/USD plummets to 1.5040 post-data
FXStreet (Edinburgh) - The sterling is now losing ground rapidly vs. the dollar, dragging GBP/USD to test fresh lows in the 1.5040/35 band.
GBP/USD drops further on PMI
The pair has seen its downside accelerated after Construction PMI in the UK economy has surprised investors to the downside, dropping to 55.3 for the month of November, vs. 58.2 initially estimated and down from October’s 58.8.
In the meantime, spot is printing fresh 2-day lows in the 1.5040 area in the wake of the PMI result, reverting two consecutive sessions of gains and down from recent highs near 1.5120.
GBP/USD important levels
The pair is now retreating 0.28% at 1.5037 facing the next support at 1.4991 (low Nov.30) followed by 1.4853 (low Apr.21) and then 1.4563 (low Apr.13). On the upside, a breakout of 1.5126 (high Dec.1) would open the door to 1.5164 (50% Fibo of 1.5336-1.4991) and finally 1.5265 (55-day sma).
GBP/USD drops further on PMI
The pair has seen its downside accelerated after Construction PMI in the UK economy has surprised investors to the downside, dropping to 55.3 for the month of November, vs. 58.2 initially estimated and down from October’s 58.8.
In the meantime, spot is printing fresh 2-day lows in the 1.5040 area in the wake of the PMI result, reverting two consecutive sessions of gains and down from recent highs near 1.5120.
GBP/USD important levels
The pair is now retreating 0.28% at 1.5037 facing the next support at 1.4991 (low Nov.30) followed by 1.4853 (low Apr.21) and then 1.4563 (low Apr.13). On the upside, a breakout of 1.5126 (high Dec.1) would open the door to 1.5164 (50% Fibo of 1.5336-1.4991) and finally 1.5265 (55-day sma).