FXstreet.com (Barcelona) - Having breached through the 1.5900 psychological level to find a top at 1.5909 during the London opening, the GBP/USD lost the sentiment handle as the August PMI Construction in the UK
was revealed. The figure fell from the expansionary paced 50.9 to contractionary 49.0, despite consensus of 50.0.
Still edging higher on the day, the cross slid down to 1.5889 but is already heading up to test the 1.5900 area again.
“As long as no daily New York close above the 1.6000 level is made, a drop back to the 3 month support line at 1.5552 remains our favored scenario”, wrote Commerzbank analyst Karen Jones.