FXstreet.com (Barcelona) - Activity in UK's construction sector has contracted at a slower level in August, as CIPS PMI rose from 47.7 in August, from 47.0 in July; The Pound has inched up, reaching levels at 1.6150.

GBP/USD, which had pulled down to test 1.6115 has extended recovery after CIPS PMI reaching 1.6150. With next resistance levels at 1.6185, 1.6225 and 1.6280. On the downside, support levels lie at 1.6115, and below here, 1.6035 (Jul 14 low) and 1.5940.

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