FXStreet – The pound Sterling remains in the second half of the week on the Defensive, and as noted, the GBP/USD to the intraday low of 1,2865/60.
GBP/USD focus on PMI
The Cable drops for the first Time after three sessions of gains, wherein the upward movement still seems to be the 1,2900/20.
The GBP has handled the recent election polls. This showed that the Conservative party remains in the lead, even if the advantage compared to the Labour melts.
The PMI of China was weaker than expected, which is weighing on the risk sentiment. For the Greenback, it looks a bit cheaper, at a cost to the Couple.
Today we expect the UK manufacturing PMI, US ADP report and the ISM manufacturing.
• GBP/USD bearish Outlook will remain intact – UOB
GBP/USD to test levels
Currently, the daily loss -0,23% at 1.2860 and the next supports is at 1,2770 (Deep 31. May), 1,2758 (Deep 21. April) and 1,2729 (55-day SMA). On the other hand, supports are located at 1,2853 (to the power of 31. May), 1,2922 (20-day SMA) and 1,2949 (High-26. May).
** FXStreet News Editorial, FXStreet**