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GBP/USD spiked to 1.5180 on data

FXStreet (Edinburgh) - The sterling has abruptly woken up and lifted GBP/USD to the boundaries of 1.5180, breaking above the dull range around 1.5140.

GBP/USD firmer on PMI

The pair has gathered further traction after UK’s Construction PMI has advanced to 7-month high at 59.9 during September, surpassing estimates at 57.5 and up from August’s 57.3.

The result has allowed spot to clinch daily peaks near 1.5180 although deflating soon afterwards, all ahead of US Non-farm Payrolls due later. Recall that consensus expects the US economy to have added 203K jobs during the last month.

GBP/USD significant levels

As of writing the pair is up 0.17% at 1.5158 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 construction output rose to 7-month high in September

The headline seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) jumped to 59.9 in September from August’s 57.3.
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