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2 May 2013
Forex: GBP/USD hovering over 1.5550
FXstreet.com (Barcelona) - The sterling is following its European peer on Thursday, orbiting around 1.5545/50 ahead of the Construction PMI due later in the UK economy. Recall that the cross pierced the key resistance at 1.5600 on Wednesday, after the manufacturing PMI print came in above expectations.
At the moment, the pair is losing 0.05% at 1.5548 with the next support at 1.5528 (hourly low May 1) ahead of 1.5476 (low Apr.29) and finally 1.5418 (low Apr.26).
On the flip side, a break above of 1.5606 (50% of Jan-mar decline) would expose 1.5690 (high Feb.13) and then 1.5810 (high Feb.11).
At the moment, the pair is losing 0.05% at 1.5548 with the next support at 1.5528 (hourly low May 1) ahead of 1.5476 (low Apr.29) and finally 1.5418 (low Apr.26).
On the flip side, a break above of 1.5606 (50% of Jan-mar decline) would expose 1.5690 (high Feb.13) and then 1.5810 (high Feb.11).