GBP / USD rate fell to new day lows immediately after the release in the UK Purchasing Managers Index. According to published data, the April index deteriorated to 6-month low.
PMI index for the construction sector amounted to 60.8 points, being the lowest value since October. The experts calculated by 62.0 points. These caused the depreciation of GBP / USD. Pound formed at least 1.6872, after which he returned to the levels at 1.6885, which were recorded on the eve of publication. Now investors minimize their activity on the eve of the U.S. news.
From a broader perspective, the British currency is in the process of consolidation after yesterday reached a new multi-year high at 1.6917.
Key technical levels for the GBP / USD
GBP / USD pair may stumble upon resistance 1.6900 (psychological level), 1.6917 (high May 1) and 1.6964 (100-month simple moving average). Otherwise, support is expected to 1.6870 (low May 1), 1.6828 (10-day simple moving average) and 1.6805 (low of 29 April).