Forex: GBP/USD tests 1.5610 support after US ADP data

FXstreet.com (San Francisco) - The Sterling has reacted down against the US Dollar after the better than expected ADP employment data. THe GBPUSD has fallen 20 pips in the latest few minutes from 1.5630 to test MA 200 hours at 1.5610.

Currently the GBPUSD is pricing at 1.5616, 0.38% below opening price action. "Watching the 1.5624 support level," says the FXMarketAlerts. "Would need a power break below there to turn more bearish to 1.5551. Resistance is at 1.5700/38."

ADP came in at 163K in July. The US private sector has added 163K jobs during July, bettering expectations at 120K although lower than June's print at revised 172K.