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4 Mar 2015
GBP/USD tests lows near 1.5340 on PMI
FXStreet (Edinburgh) - The sterling is challenging session lows vs. the US dollar on Wednesday, sending GBP/USD to the area of 1.5340.
GBP/USD lower on data
The pair is accelerating its intraday decline after the key Services PMI in the UK economy surprised investors to the downside in February, falling to 56.7 vs. 57.5 forecasted and down from January’s 57.2.
Nothing further in the data space in the UK, with US ADP report and the ISM Non Manufacturing as the main highlights across the pond.
GBP/USD key levels
As of writing the pair is retreating 0.17% at 1.5341 with the next support at 1.5324 (38.2% of 1.4952-1.5554) followed by 1.5317 (low Feb.17) and finally 1.5310 (55-d MA). On the upside, the first hurdle aligns at 1.5389 (cloud top) ahead of 1.5397 (high Mar.3) and then 1.5416 (10-d MA).
GBP/USD lower on data
The pair is accelerating its intraday decline after the key Services PMI in the UK economy surprised investors to the downside in February, falling to 56.7 vs. 57.5 forecasted and down from January’s 57.2.
Nothing further in the data space in the UK, with US ADP report and the ISM Non Manufacturing as the main highlights across the pond.
GBP/USD key levels
As of writing the pair is retreating 0.17% at 1.5341 with the next support at 1.5324 (38.2% of 1.4952-1.5554) followed by 1.5317 (low Feb.17) and finally 1.5310 (55-d MA). On the upside, the first hurdle aligns at 1.5389 (cloud top) ahead of 1.5397 (high Mar.3) and then 1.5416 (10-d MA).