1 May 2015
GBP/USD awaits UK data
FXStreet (Mumbai) - The GBP/USD is trading in the sideways manner on Friday as investors await the preliminary UK manufacturing PMI data for April.
Consolidates around 1.5350
The pair is gyrating around 1.5350 levels, after having recovered from the low of 1.5323. The investors now await the UK data which could show, manufacturing PMi index rose to 54.6 in April from 54.4 in March. Meanwhile, the investors will also keep an eye on the election uncertainty.
Ahead in the data, the US ISM manufacturing data could also influence the pair. Volumes are likely to be thin on account of trading holiday across much of the Europe.
GBP/USD Technical Levels
The immediate resistance is located at 1.54, above which gains could be extended to 1.5490 (200-DMA). On the flip side, a break below 1.5336 (5-DMA), under which losses could be extended to 1.5250.
Consolidates around 1.5350
The pair is gyrating around 1.5350 levels, after having recovered from the low of 1.5323. The investors now await the UK data which could show, manufacturing PMi index rose to 54.6 in April from 54.4 in March. Meanwhile, the investors will also keep an eye on the election uncertainty.
Ahead in the data, the US ISM manufacturing data could also influence the pair. Volumes are likely to be thin on account of trading holiday across much of the Europe.
GBP/USD Technical Levels
The immediate resistance is located at 1.54, above which gains could be extended to 1.5490 (200-DMA). On the flip side, a break below 1.5336 (5-DMA), under which losses could be extended to 1.5250.