The GBP/USD pair hold above the 1.5600 level, but the Pound failed to rally after the release of positive local manufacturing data, as the UK Markit Manufacturing PMI for July resulted at 51.9 above previous of 51.4 and expectations of 51.6, a tepid grow anyway in the sector.
The pair is losing its upward strength, but the 4 hours chart shows that the price is so far holding above its 20 SMA, whilst the 200 EMA stands flat around 1.5565. The technical indicators in the same chart have turned lower and are now approaching their mid-lines, increasing chances of a bearish continuation, should the price break below the 1.5600 figure, down to the mentioned 1.5565 level, where some buying interest is expected to surge.
The upside is being limited by strong selling interest around 1.5670, which means that only some steady gains beyond it will favor an advance towards the 1.5730/40 price zone.
View live chart of the GBP/USD
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