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6 Jan 2015
GBP/USD slips below 1.52 levels on downbeat UK Services PMI
FXStreet (Mumbai) - Cable trades slipped immediately after release of UK Services PMI reading and hit fresh daily lows, as the data revealed that UK services sector growth lost momentumin December.
The GBP/USD pair hit fresh daily lows at 1.5188 levels, heading towards 17-month lows of 1.5167 hit yesterday. The pound lost ground versus the US dollar after business activity in the UK's largest sector contracted in December to a 19-month low with the Markit/CIPS PMI headline measure edging down to 55.8, down from last month's 58.6.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5274 (Today’s High) above which gains could be extended to 1.5334 (5-DMA) levels. On the flip side, support is seen at 1.5167 (Jan 5 Low), below which it could extend losses to 1.50 levels.
The GBP/USD pair hit fresh daily lows at 1.5188 levels, heading towards 17-month lows of 1.5167 hit yesterday. The pound lost ground versus the US dollar after business activity in the UK's largest sector contracted in December to a 19-month low with the Markit/CIPS PMI headline measure edging down to 55.8, down from last month's 58.6.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5274 (Today’s High) above which gains could be extended to 1.5334 (5-DMA) levels. On the flip side, support is seen at 1.5167 (Jan 5 Low), below which it could extend losses to 1.50 levels.