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GBP/USD tests 1.5150 on PMI

FXStreet (Edinburgh) - The pound has spiked to session tops vs. the dollar following the manufacturing PMI result, lifting GBP/USD to the 1.5150 area.

GBP/USD firmer on UK data

Spot is trading on a firmer footing after Markit’s manufacturing PMI came in above consensus at 51.5 for the month of September. The print however, represents a 3-month low, maybe another sign that the UK economy could be running out of steam.

There are no further releases in the UK, while the ISM Manufacturing and Initial Claims will grab all the attention across the Atlantic.

GBP/USD significant levels

As of writing the pair is up 0.08% at 1.5142 with the next resistance at 1.5205 (high Sep.29) followed by 1.5241 (high Sep.28) and finally 1.5263 (high Sep.25). 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).

UK manufacturing PMI at three-month low in September

The headline seasonally adjusted Markit/CIPS Purchasing Manager’s Index (PMI) eased to 51.5 in September, down from an upwardly revised reading of 51.6 in August.
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EUR/GBP keeps range near 0.7365 on UK PMI

The offered around the EUR/GPB cross remained intact in the European morning, following the release of the UK factory data, which outpaced estimates.
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