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FxWirePro: GBP/USD trades lower after weaker UK PMI, good to buy at dips

  • GBP/USD has made a high of 1.51250 and declined from that level after release of weaker than expected UK Manufacturing PMI.
     
  • UK Manufacturing PMI fell to a seasonal adjusted   52.7 in Nov compared to forecast of 53.6.
     
  • Technically the pair is facing strong resistance around 1.5130 and break above will take the pair to new level.
     
  • On the downside minor support is around 1.5050 and break below targets 1.5000/1.4980.

It is good to buy at dips around 1.5050 with SL around 1.4980 for the TP of 1.5150/1.5220.

 

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