9 Dec 2014
GBP/USD steadies ahead of UK Factory numbers
FXStreet (Mumbai) - The cables trades with moderate gains during the European morning, as traders eye UK manufacturing and industrial activity data to be released shortly.
Currently, the GBP/USD pair trades at 1.5672 levels, 0.12% higher from the previous session’s close of 1.5653. The pair continues to trade cautiously as market awaits fresh industrial and manufacturing output data from the UK, which may show deceleration in the factory growth in October.
The UK Office for National Statistics is expected to report industrial output rose 0.2% in October following a 0.6% increase in September. Manufacturing output is estimated to have fallen to growth of 0.2% in October from 0.4% measured a month before.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5697 (Dec 5 High) levels, above which gains could be extended to 1.5719 (Dec 3 High) levels. On the flip side, support is seen at 1.5651 (10-day SMA), below which it could extend losses to 1.5618 (50-day SMA) levels.
Currently, the GBP/USD pair trades at 1.5672 levels, 0.12% higher from the previous session’s close of 1.5653. The pair continues to trade cautiously as market awaits fresh industrial and manufacturing output data from the UK, which may show deceleration in the factory growth in October.
The UK Office for National Statistics is expected to report industrial output rose 0.2% in October following a 0.6% increase in September. Manufacturing output is estimated to have fallen to growth of 0.2% in October from 0.4% measured a month before.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5697 (Dec 5 High) levels, above which gains could be extended to 1.5719 (Dec 3 High) levels. On the flip side, support is seen at 1.5651 (10-day SMA), below which it could extend losses to 1.5618 (50-day SMA) levels.