FXStreet (Mumbai) – The GBP/USD pair turned lower to 1.52 after it ran into offers at the Asian session high of 1.5217 levels.
GBP/USD: Awaits construction PMI
Investors await construction PMI for May, which is expected to tick higher to 55.00 from 54.2 in April. In the previous session, a weaker-than-expected manufacturing PMI weighed heavily over the British Pound.
The better-than-expected US ISM manufacturing index further hurt the pair, pushing it to a low of 1.5181 levels.
GBP/USD Technical Levels
The immediate support is seen at 1.5189 (50% Fib R of 1.4564-1.5813), under which the pair could dip to 1.5120 levels. On the flip side, a break above 1.5228 (50-DMA) could see the pair test 1.5258 (5-DMA).
(Market News Provided by FXstreet)