Forex: GBP/USD keeps the negative mood

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Forex: GBP/USD keeps the negative mood

FITITOL--> FXstreet.com (Barcelona) - The sterling can’t get any traction on Wednesday as the greenback continues to outperform its rivals. Positive data out of the British economy â€" improvement in mortgage approvals, consumer credit and construction PMI - have been offset by the disappointing batch of euro zone PMI results, all of them missing expectations.

J.Kruger, Technical Analyst at DailyFX, suggests that “…although the market had been very well bid in recent sessions, the rally looks like it might finally be closer to stalling out in favor of a bearish resumption”, adding at the same time that a daily close below 1.6150 would confirm further downside while above 1.6400 would alleviate selling pressure.

At the moment, the cross is down 0.18% at 1.6192 with the next support at 1.6153 ahead of 1.6082 then 1.6060 and 1.6039
On the flip side, a breakout of 1.6304 would bring 1.6322 then 1.6335 and finally 1.6455