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GBP/USD testing 1.5300 barrier

FXstreet.com (Barcelona) - The GBP/USD has been unable to get on track Tuesday, after a steadfast surge yesterday, which seems to be fading across European trading.

In terms of economic data, in the United Kingdom, PMI Construction was reported at 50.8 in May, beating expectations calling for 49.6, and compared to a figure of 49.4 previously.

In recent moments, the pair has settled at 1.5306/08, incurring a loss of -0.06% thus far. Mataf.net technical analysts take note of the next short-term supports for the GBP/USD at 1.5235, ahead of 1.5130, and 1.5059. Conversely, the pair is set to encounter calculated resistance at 1.5411, onto 1.5482, and ultimately 1.5587.

According to the Technical Analyst Team at ICN.com, “The GBP/USD upside move extended, ignoring oversold signals on the stochastic. Additionally, the possibility of extending the bullish move is related to stability above 1.5235, trading above it might extend the upside move in the upcoming period.”

United Kingdom May PMI Construction up to 50.8 vs 49.4 (April)

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UK: PMI Construction starts expanding in May

After six months of contraction, the UK PMI Construction increased to 50.8 points in May, from 49.4 points in April, according to data released today by Markit. Analysts expected only a slowdown in contraction to 49.6.
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