Currency Analyst since 2010

GBP/USD is hit by UK data

GBP/USD slid below $1.6000 and is testing support at $1.5955 (Sept. 24 low). Pound was hit by weak UK data: industrial & manufacturing production declined, while trade deficit didn’t contract as much as expected.

Support lies at $1.5920 (23.6% Fibo of the advance from July and also a support line). Resistance is $1.6050, $1.6130 and $1.6170.

Chart. H4 GBP/USD

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