The Pound weakened slightly versus the Dollar after bouncing off support near 1.585. Manufacturing PMI came out stronger with 56.7 versus 54.1 forecast. Overall, GBP/USD traded with a low of 1.5850 and a high of 1.5978. GBP/USD has gained support at 1.5850 and finished the trading session almost unchanged with a Dragonfly Doji pattern. The momentum is still downwards until we could see confirmation candlestick and a cross above 1.60. Today, Construction PMI is expected with 47.7 versus 47.1 prior.

GBP/USD - Last: 1.5960

Resistance

1.5980

1.6020

1.6050

Support

1.5850

1.5780

1.5700

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