3 Dec 2014
GBP/USD hits daily highs after UK services PMI
FXStreet (Córdoba) - GBP/USD received a boost from better-than-expected UK services PMI and reached fresh daily highs, although it lacked follow-through.
UK Services PMI rose to 58.6 in November from 56.2 and beating expectations of 58.5. The numbers helped the pound, and sent GBP/USD to a high of 1.5667 before pulling back to pre-data levels. At time of writing, the pair is trading at 1.5650, still up 0.1% on the day.
The pair had fallen to the 1.5620 area, but it managed to recover some ground, underpinned by EUR/GBP selling on the back of disappointing European PMIs.
GBP/USD technical levels
As for technical levels, immediate resistances are seen at 1.5667 (daily high), 1.5700 (psychological level) and 1.5742 (Dec 2 high). On the other hand, supports could be found at 1.5618 (daily low) and 1.5600 (psychological level) ahead of 1.5584 (2014 low Dec 1).
UK Services PMI rose to 58.6 in November from 56.2 and beating expectations of 58.5. The numbers helped the pound, and sent GBP/USD to a high of 1.5667 before pulling back to pre-data levels. At time of writing, the pair is trading at 1.5650, still up 0.1% on the day.
The pair had fallen to the 1.5620 area, but it managed to recover some ground, underpinned by EUR/GBP selling on the back of disappointing European PMIs.
GBP/USD technical levels
As for technical levels, immediate resistances are seen at 1.5667 (daily high), 1.5700 (psychological level) and 1.5742 (Dec 2 high). On the other hand, supports could be found at 1.5618 (daily low) and 1.5600 (psychological level) ahead of 1.5584 (2014 low Dec 1).