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- Greenback weakness across the board helping GBP/USD higher, pair is currently struggling to hold above the 1.56 handle
- Cable met headwind pre-1.5624 after extending north from 1.5570 (Asia low), has from there retraced some of the gains and is currently trading at 1.5598
- GBP/USD showed muted reaction to upbeat UK manufacturing PMI data which continued its expansion in July
- Markets awaits UK construction PMI, expectations are for a better reading which could offers some support to the GBP bulls
Resistance Levels:
R1: 1.5616 (Day's high Aug 4)
R2: 1.5624 (Hourly High Aug 3)
R3: 1.5669 (Daily Cloud Top)
Support Levels:
S1: 1.5567 (Daily Low Aug 3)
S2: 1.5550 (Daily Low Jul 31)
S3: 1.5528 (Daily Low Jul 28)
