4 Dec 2013
GBP/USD dips on disappointing UK services PMI
FXstreet.com (Córdoba) - The GBP/USD saw a quick dip to fresh weekly lows during the European session after data showed the UK Services PMI dropped to its lowest level in 5 months in November.
The UK Markit Services PMI dipped to 60.0 from 62.5 the previous month and missing expectations of 62.0. The GBP/USD dove to a low of 1.6325 although it quickly bounced as despite disappointing data was solid. At time of writing, the GBP/USD is trading at the1.6360 zone, still 0.2% below its opening price.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could find immediate supports at 1.6325 (daily low), 1.6313 (Nov 29 low) and 1.6290 (200-hour SMA). On the other hand, resistances are seen at 1.6396 (daily high), 1.6435 (Dec 3 high) and 1.6441 (2013 high Dec 2).
The UK Markit Services PMI dipped to 60.0 from 62.5 the previous month and missing expectations of 62.0. The GBP/USD dove to a low of 1.6325 although it quickly bounced as despite disappointing data was solid. At time of writing, the GBP/USD is trading at the1.6360 zone, still 0.2% below its opening price.
GBP/USD levels to watch
In terms of technical levels, the GBP/USD could find immediate supports at 1.6325 (daily low), 1.6313 (Nov 29 low) and 1.6290 (200-hour SMA). On the other hand, resistances are seen at 1.6396 (daily high), 1.6435 (Dec 3 high) and 1.6441 (2013 high Dec 2).