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2 Jan 2015
GBP/USD trades at August 2013 levels
FXStreet (Mumbai) - The GBP/USD weakened to trade at 1.5482 after the UK PMI manufacturing fell to a three-month low of 52.5 in December.
The pair currently trades 0.62% lower for the day at 1.5482 levels after the disappointing PMI data hit the wires. The PMI manufacturing reading unexpectedly slowed on a weak growth in overseas markets. The report showed overseas orders stagnated in December, further highlighting Britain’s dependency on domestic demand. The Bank of England did cite “subdued external demand” while they cut their economic forecasts in November.
GBP/USD Technical Levels
The pair has an immediate support located at 1.5450, under which the pair may test 1.5390 levels. Meanwhile, resistance is seen at 1.5539 and 1.5620 levels.
The pair currently trades 0.62% lower for the day at 1.5482 levels after the disappointing PMI data hit the wires. The PMI manufacturing reading unexpectedly slowed on a weak growth in overseas markets. The report showed overseas orders stagnated in December, further highlighting Britain’s dependency on domestic demand. The Bank of England did cite “subdued external demand” while they cut their economic forecasts in November.
GBP/USD Technical Levels
The pair has an immediate support located at 1.5450, under which the pair may test 1.5390 levels. Meanwhile, resistance is seen at 1.5539 and 1.5620 levels.