GBP/USD off highs, back to 1.5140

By FXStreet FXStreet (Edinburgh) – GBP/USD has quickly faded the spike to the 1.5180 area following the release of the UK’S Construction PMI during September.

GBP/USD now looks to US Payrolls

The earlier test of session tops near 1.5180 has proven to be short-lived, as spot has rapidly returned to the current comfort zone in the 1.5140/45 band. Recall that better-than-expected Construction PMI in the UK economy during last month has supported the bull run in GBP, adding to yesterday’s positive surprise from the manufacturing PMI.

The pair will remain under scrutiny in light of the key US docket due later, with Non-farm Payrolls taking centre stage, seconded by the Unemployment Rate, Factory Orders and the speech by Fed’s S.Fischer.

GBP/USD significant levels

As of writing the pair is up 0.08% at 1.5145 with the next resistance at 1.5174 (high Oct.2) followed by 1.5205 (high Sep.29) and finally 1.5241 (high Sep.28). On the flipside, a break below 1.5107 (low Oct.1) would aim for 1.5089 (low May 7) and then 1.5035 (low Apr.24).
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Source:: FX Street