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Cable breaks minor support 1.5050 after release of weaker than expected UK Construction PMI.
- UK Construction PMI came at 55.3 in Nov compared to forecast of 58.2. Sterling falls till 1.50316 after weaker PMI data.
- Intraday Trend - Bearish
- The pair has broken major intraday support 1.5050 and confirms minor weakness, a decline till 1.5000 is possible.
- On the higher side major resistance is around 1.5105 and break above targets 1.5130/1.5160.
It is good to sell on rallies around 1.5050-055 with SL around 1.5080 for the TP of 1.5000/1.4980
