FXStreet — The Sterling is losing some of its Shine and this makes the GBP/USD in the range of the daily low of 1,2875/70.
GBP/USD focus on data
After the new multi-month high on Friday at 1,2970 was formed, and began the Cable of the week on the Defensive, while the investors think apparently again about the possibility of a hard Brexit.
The weaker sentiment towards the Greenback helps to limit the Pair of the downward movement, while the GBP weakness, especially on the recent Meeting between the PM, Theresa May and the EU Jean-Claude Juncker, is based.
Later, the UK manufacturing PMI published and according to the forecast in April to a slight correction from 54.2 previously to 54.0. From the USA there is no important data, so that the markets have been slow with the FOMC meeting (Wednesday) and Payrolls (Friday).
GBP/USD to test levels
Currently, the daily loss -0,08% at 1,2875 and the next supports is at 1,2864 (Deep-2. May), 1,2758 (Deep 21. April) and 1,2685 (20-day SMA). On the other hand, Resistances can be found at 1,2970 (2017 High 28. April), 1.3000 (psychological level) and 1,3060 (High 29. September 2016).
** FXStreet News Editorial, FXStreet**