FXStreet (Córdoba) – GBP/USD pulled back and revisited daily lows at the 1.5200 area after stronger than expected ISM manufacturing data gave the greenback a boost.
GBP/USD had recovered from a low of 1.5156 to a session high of 1.5270 at the beginning of the American session, but failed to consolidate and retreated to a low of 1.5200 in recent dealings. Cable managed to hold above the psychological level and it was last trading at 1.5215, 0.48% lower on the day.
On the data front, the Institute of Supply Management (ISM) manufacturing index rose to 52.8 in May from 51.5 and above the 52.0 expected.
GBP/USD is recording its fifth daily loss in a row, extending the broader downward correction from highs above 1.5800 scored at mid May. Immediate supports are seen at 1.5196 (daily low) and 1.5163 (100-day SMA).
(Market News Provided by FXstreet)