FXstreet.com (Barcelona) - GBP/USD has dramatically dropped from support at 1.6200 to where it is currently trading at 1.6150 following disappointing Chicago PMI data.
The pair followed market sentiment this afternoon, dropping close to 50 pips after Chicago PMI data came in sub 50 at 49.7 against expectations of 53. Elsewhere the Michigan Consumer Sentiment Index came in at 78.3/79 adding to the risk off sentiment as we head into the European close.
Equities on both sides of the pond are trading underwater whilst commodities are slightly more buoyant but slipping into the red.
The pair followed market sentiment this afternoon, dropping close to 50 pips after Chicago PMI data came in sub 50 at 49.7 against expectations of 53. Elsewhere the Michigan Consumer Sentiment Index came in at 78.3/79 adding to the risk off sentiment as we head into the European close.
Equities on both sides of the pond are trading underwater whilst commodities are slightly more buoyant but slipping into the red.
