2 Dec 2013
GBP/USD turns negative
FXstreet.com (Córdoba) - After failing to break above the 1.6440 area during the Asian session, the GBP/USD staged a downward correction that has extended over the New York trade.
The GBP/USD came under pressure and erased its daily advance despite stronger than expected UK Markit manufacturing PMI. The GBP/USD dipped back below 1.6400 and hit a low of 1.6341 as the greenback strengthened on the back of ISM data. At time of writing, the GBP/USD is trading at the 1.6355 zone, recording a 0.2% loss on the day.
GBP/USD technical levels
In terms of technical levels, the Cable could find immediate supports at 1.6341 (daily low), 1.6300 (psychological level) and 1.6275 (Nov 28 low). On the flip side, resistances are seen at 1.6383 (Nov 29 high) and 1.6441 (daily high).
The GBP/USD came under pressure and erased its daily advance despite stronger than expected UK Markit manufacturing PMI. The GBP/USD dipped back below 1.6400 and hit a low of 1.6341 as the greenback strengthened on the back of ISM data. At time of writing, the GBP/USD is trading at the 1.6355 zone, recording a 0.2% loss on the day.
GBP/USD technical levels
In terms of technical levels, the Cable could find immediate supports at 1.6341 (daily low), 1.6300 (psychological level) and 1.6275 (Nov 28 low). On the flip side, resistances are seen at 1.6383 (Nov 29 high) and 1.6441 (daily high).