Forex: GBP/USD trading back above 1.6200

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Forex: GBP/USD trading back above 1.6200

FITITOL--> FXstreet.com (Barcelona) - After bottoming at 1.6186 on the unexpected improvement of the US manufacturing ISM, the sterling is now bouncing off the session lows and is back again above the 1.6200 mark as we head into the close of the European session.

Risk-on trade was prevailing until the stronger than expected US data has surprised the markets, reverting the initial trend on Tuesday.
In another tone, UK’s PMI manufacturing has come in at 50.5 in April, below estimates at 51.5 and down from March’s 51.9

At the moment the cross is losing 0.09% at 1.6221, facing the next support at 1.6153 (low Apr.27) followed by 1.6149 (MA10d) then 1.6082 (low Apr.25) and 1.6060 (high Apr.2).
Resistance levels are located at 1.6298 (Upper Bollinger) ahead of 1.6304 (high Apr.30) then 1.6335 (high Aug.31) and 1.6455 (high Aug.29).