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May 01 - 11:55 AM

GBP/USD - Drops Towards 1.3300 On US ISM Mfg Index Beat

By Robert Howard  —  May 01 - 10:24 AM

• Cable falls to 1.3309 as USD gains on U.S. ISM manufacturing index beat

• 48.7 vs 48.0 forecast. 1.3309 = NY session low (1.3310 was Wednesday low)

• Ldn am intra-week low was 1.3275 (1.3272 is 23.6% Fibo of 1.2712-1.3445)

• Resistance levels include 1.3345 (intra-day high) and 1.3400

• English local election polls close at 10pm BST: results expected on Friday

• Experts see Reform UK winning about 25% of the 1,641 seats being contested

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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