FXstreet.com (Barcelona) - The Pound has risen about 80 pips on the back of better than expected UK manufacturing PMI, and lowest Net consumer lending on record; Sterling has broken range top around 1.4820 to reach intra-day high at 1.4860.
Next resistance level lies at 1.4870 before yesterday's high at 1.4950, once above here, 1.5065 (Apr 16 high). On the downside, intra-day low at 1.4750/65, and below there,1.4690/1.4700 before 1.4630.
UK PMI has risen to 42.9 in April from 39.5 in March, above market expectations of a reading around 40.5. At the same time, UK net consumer lending has been released to have hit its lowest level on record in March, totalling GBP0.9 billion, from 1.5 billion in Feb.
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