Forex: GBP/USD eases to 1.6140 ahead of UK industrial and manufacturing data

FXstreet.com (Barcelona) - Yesterday's rally following the Euro mood after ECB Draghi's upbeat remarks at the press conference sent the GBPUSD up past the 1.6100 psychological level, and finding its daily high at 1.6179. The market has been easing since that high printed after the US close.

After touching 1.6140 low, the GBPUSD jumped to 1.6166 ahead of the London opening, but such movement was quickly retraced back to its lows. UK industrial and manufacturing production is due right away, as well as a 10-year bond auction.

"Close above previous high at 1.6126, open s way for fresh extension higher and test of initial 1.6200 barrier, ahead of 1.6231, Fib 61.8%", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to initial support lies at 1.6130 zone, and that "further easing should not exceed 1.6100, psychological support and Fib 38.2% of 1.5991/1.6177 rally, to keep bulls intact".