Forex: GBP/USD up around 1.6040, eyes on PMI
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GBP/USD
FXstreet.com (Barcelona) - The sterling is trading firmly in the positive territory on Monday, following the general upbeat tone after the improvement in the November Chinese PMI print, boosting the demand for the cyclical currencies.
Ahead in the day, the UK manufacturing PMI will also be released. Market consensus expects the headline to improve to 48.0 from 47.5 during November.
At the moment, the pair is up 0.07% at 1.6031 facing the next hurdle at 1.6062 (high Nov.30) ahead of the psychological level at 1.6100 and then 1.6133 (high Nov.2).
On the downside, a break below 1.5962 (low Nov.28) would expose 1.5927 (low Nov.23) and finally 1.5828 (low Nov.15).
Ahead in the day, the UK manufacturing PMI will also be released. Market consensus expects the headline to improve to 48.0 from 47.5 during November.
At the moment, the pair is up 0.07% at 1.6031 facing the next hurdle at 1.6062 (high Nov.30) ahead of the psychological level at 1.6100 and then 1.6133 (high Nov.2).
On the downside, a break below 1.5962 (low Nov.28) would expose 1.5927 (low Nov.23) and finally 1.5828 (low Nov.15).
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