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6 Jan 2014
GBP/USD falls further after UK services PMI
FXstreet.com (Córdoba) - The GBP/USD weakened further and extended its decline to a fresh 2-week low after the UK services PMI came in below expectations.
The Markit services PMI slipped to 58.8 in December from 60 the previous month, missing expectations. The consensus was looking for 60.0. "This is the weakest reading since June, but it is still at levels consistent with strong business activity", James Knightley, analyst at ING Bank commented. "In fact business expectations actually rose".
GBP/USD levels to watch
The GBP/USD fell to a low of 1.6337 before bouncing to the 1.6350 area, where it is recording a 0.3% loss on the day. As for technical levels, immediate supports could be found at 1.6337 (daily low), 1.6315 (Dec 20 low) and 1.6300 (psychological level). On the other hand, resistances are seen at 1.6380 (intraday level), 1.6415 (daily high) and 1.6465 (100-hour SMA).
The Markit services PMI slipped to 58.8 in December from 60 the previous month, missing expectations. The consensus was looking for 60.0. "This is the weakest reading since June, but it is still at levels consistent with strong business activity", James Knightley, analyst at ING Bank commented. "In fact business expectations actually rose".
GBP/USD levels to watch
The GBP/USD fell to a low of 1.6337 before bouncing to the 1.6350 area, where it is recording a 0.3% loss on the day. As for technical levels, immediate supports could be found at 1.6337 (daily low), 1.6315 (Dec 20 low) and 1.6300 (psychological level). On the other hand, resistances are seen at 1.6380 (intraday level), 1.6415 (daily high) and 1.6465 (100-hour SMA).