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GBP/USD broke above 1.60 post UK PMI data

FXStreet (Moscow) - GBP/USD was busy testing 1.60 handle before the release, and moved to 1.6021 post data; currently, it’s trading at 1.6014.

The pair was able to recover after the sharp slide to 2-week low seen in early Asia. The move up was helped by much stronger than expected Manufacturing PMI. It came out at 53.2 vs 51.2 expected, printing 3-month high and confirming the British economy is still doing good, despite some slowing of the growth seen in the third quarter. The index helped the pair to break above 1.60 handle, and rush higher to 1.6021 post data. In terms of technical picture, we may see a move to 1.6054 resistance, once the 1.6020 barrier is broken.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.5983, with support below at 1.5954, followed by 1.5912 and 1.5883 with resistance above at 1.6025, followed by 1.6054 and 1.6096. Hourly Moving Averages are bearish, with the 200SMA at 1.6059, and the daily 20EMA bearish at 1.6090. Hourly RSI is bearish at 56.

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