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1 May 2013
Forex: GBP/USD muted after UK data
FXstreet.com (Barcelona) - The sterling is inching higher on Wednesday, after the UK house prices gauged by Nationwide contracted 0.1% on a monthly basis during April and rose 0.9% over the last twelve months. Both prints came in below expectations.
Next on tap in the British economy will be April’s manufacturing PMI, expected to advance a tad to 48.5 vs. 48.3 in the previous month.
GBP/USD is now up 0.07% at 1.5544 with the next resistance at 1.5547 (high Apr.29) ahead of 1.5550 (high Feb.15) and finally 1.5566 (Day Channel Top-Mar. low).
On the downside, a break below 1.5476 (low Apr.29) would expose 1.5467 (low Apr.30) and then 1.5418 (low Apr.26).
Next on tap in the British economy will be April’s manufacturing PMI, expected to advance a tad to 48.5 vs. 48.3 in the previous month.
GBP/USD is now up 0.07% at 1.5544 with the next resistance at 1.5547 (high Apr.29) ahead of 1.5550 (high Feb.15) and finally 1.5566 (Day Channel Top-Mar. low).
On the downside, a break below 1.5476 (low Apr.29) would expose 1.5467 (low Apr.30) and then 1.5418 (low Apr.26).