Forex: GBP/USD recovers and hits highs after the strong British PMI (Barcelona) - After beginning the European session dropping to 1.5706 on weak U.K. house prices data, the pair bounced back and peaked at 1.5870. At the time of writing, GBP/USD is quoting at 1.5831, gaining 0.46%.

The sterling recovery driver was the strong the U.K. manufacturing index, that jumped to an eight-month high in January, returning to growth after a quarter of contraction.

On a separated report, the ADP Employer Service showed today that U.S. companies added 170,000 workers in January. This increase was less than forecast, but followed a revised 292,000 rise the prior month.

Later today the manufacturing ISM release is expected to rise to 54.5 in January, the highest since June, from 53.1 in December.

According to Forex Studies, the cross may find the next resistance levels at 1.5868 and 1.5908. On the downside, GBP/USD supports are located at 1.5828, 1.5728 and 1.5689.