Forex: GBP/USD breaks 1.6540 resistance after ISM data

Wed, Nov 4 2009, 15:24 GMT
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FXstreet.com (Barcelona) – The Sterling has reacted up against the Greenback after the disappointed ISM non-manufacturing data in October. The GBP/USD has jumped 60 pips in the following minutes after post data release from 1.6500 to break previous highs at 1.6540 to hit 1.6560 as fresh intra-week high level.

Currently the pair is trading around 1.6550/60, 0.75% above today's opening price action at 1.6440 in its way to approaches to 1.6600 level.

ISM non-manufacturing index has decreased against expectations to 50.6 pts in October from 50.9 pts in September. Market expectations were an increase to 51.5 pts in October.

GBP/USD

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