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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.
Resistance
R1-1.5130
R2-1.5160
R3-1.5220
Support
S1-1.5050
S2-1.5000
S3-1.4980
