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Forex pairs in this Article » GBP/USD (London) - GBP/USD has been squeezing higher with construction PMI arriving firmer at 59.4. This number that beat the lower consensus of just 58.7 has lifted Sterling despite being dampened by Euro demand in the cross earlier on in the session. All in all, the markets are firmer on the dollar but the pair remains above the key mid September break up point at 1.5850 and 1.6000 is the target for traders to complete the retracement from Fridays break to the downside when the pair moved below the handle. Factory orders are up next and of course the markets are looking forward to Friday Non-Farm Payrolls (Oct).

GBP/USD Levels

The 20 DMA is 1.6070, the 50 DMA is 1.5940 and the 200 DMA is 1.5486. RSI (14) reads 57.17. Supports are ascending from 1.5829, 1.5844, 1.5869, 1.5894, and 1.5917. Spot is currently 1.5949 while resistances are coming in at 1.5999 ,1.6015, 1.6046 and 1.6079.
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