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5 May 2015
GBP/USD testing 1.5100 on data
FXStreet (Edinburgh) - The sterling has given away initial gains vs. the greenback, with GBP/USD now testing lows in sub-1.5100 levels.
GBP/USD weaker on data, dollar
The pair is following the rest of the risk-associated assets on Tuesday, now dipping further into the red territory after the Construction PMI in the UK economy disappointed investors during April, dropping to 54.2 vs. 57.5 forecasted and March’s 57.8. Collaborating with the downside, the greenback continues to trade on a firm footing following last week’s sharp pullback, now relegating spot to multi-day lows near 1.5090/85.
No further data in the UK today, with US Services PMI, ISM Non-manufacturing and trade balance figures due in the US docket.
GBP/USD key levels
At the moment the pair is losing 0.09% at 1.5105 with the next support at 1.5033 (50% of 1.4567-1.5498) ahead of 1.5028 (low Apr.24) and then 1.5000 (psychological level). On the upside, a breakout of 1.5154 (100-d MA) would target 1.5174 (high May 4) en route to 1.5200 (psychological level).
GBP/USD weaker on data, dollar
The pair is following the rest of the risk-associated assets on Tuesday, now dipping further into the red territory after the Construction PMI in the UK economy disappointed investors during April, dropping to 54.2 vs. 57.5 forecasted and March’s 57.8. Collaborating with the downside, the greenback continues to trade on a firm footing following last week’s sharp pullback, now relegating spot to multi-day lows near 1.5090/85.
No further data in the UK today, with US Services PMI, ISM Non-manufacturing and trade balance figures due in the US docket.
GBP/USD key levels
At the moment the pair is losing 0.09% at 1.5105 with the next support at 1.5033 (50% of 1.4567-1.5498) ahead of 1.5028 (low Apr.24) and then 1.5000 (psychological level). On the upside, a breakout of 1.5154 (100-d MA) would target 1.5174 (high May 4) en route to 1.5200 (psychological level).