GBP/USD got helped by UK PMI, above 1.6480

By FXstreet.com | Updated September 03, 2014 AAA

FXStreet (Moscow) - GBP/USD was more reserved than EUR/USD adding just about 15 pips to 1.6475 on news about Russian-Ukrainian agreement. The just released UK PMI moved the pair to 1.6492 initially.



Reflexes and corrections



The pound got hit by the recent YouGov poll results on Scotland Independence vote. It revealed that the gap between the “No” and the “Yes” vote has narrowed to 53% and 47%, accordingly. However, the initial market reaction probably had a reflective nature, and today we could see a correction higher, especially after Services PMI exceeded expectations. The UK index came out at 60.5 vs 58.5 expected following the yesterday’s positive surprise from the Construction sector, and confirming the British recovery is still on tap. The pair is trading around 1.6480 area, as large sellers’ interest is rumored around 1.6485 and 1.6500 levels.



What are today’s key GBP/USD levels?



Today's central pivot point can be found at 1.6475. The initial support may be located below at 1.6459, followed by 1.6410, and 1.6375. Resistance can be found above at 1.6485, with 1.6500, and 1.6540 to follow.



You May Also Like

Related Forex Analysis
  1. GBP/USD eyes a close on 1.58 handle
    Forex News

    GBP/USD eyes a close on 1.58 handle

  2. After consolidation phase, the GBP/USD attacks 1.5800 again
    Forex News

    After consolidation phase, the GBP/USD attacks 1.5800 again

  3. Bullish US Dollar Undermined by Shaky October Durable Goods Orders
    Forex News

    Bullish US Dollar Undermined by Shaky October Durable Goods Orders

  4. GBP up 0.2% on open – Scotiabank
    Forex News

    GBP up 0.2% on open – Scotiabank

  5. GBP/USD knocks the 1.5800 doors
    Forex News

    GBP/USD knocks the 1.5800 doors

Trading Center