GBP/USD stays below 1.28 post data to EE.UU

The pair GBP/USD retreated from the minimum daily in the american session, but was unable to climb above 1.28 despite the macro data mixed of the united States. For the moment, the pair has been reduced by 0.2%, to 1.2785.

Data today revealed that the growth of the private sector, both in the service sector as in manufacturing, in the united States lost momentum in April, when the composite PMI fell from 53 in march to 52.7. According to the data, Markit said the latest reading pointed to the rate of expansion weakest since September of 2016.

The negative impact of the grim data on the us dollar seems to have vanished, as the next in-line data showed that the total sales of existing homes increased by 4.4%, which marked the fastest rate in more than a decade.

After visiting the area of 99.80, with the help of the strong numbers of home sales, the index of the U.S. dollar gathered some momentum bullish and freshened its session high as she approached the significant level of 100. At this time, the index rose 0.2 percent to 99.92.

Technical perspective

The initial obstacle for the pair is aligned to 1,2800 (psychological level) and waiting to 1.2875 (maximum of 18 April) and 1.2900 (psychological level).

To the downside, a break below 1.2760 (daily minimum) may point to 1.2700 (psychological level) and 1.2615 (maximum of 27 march).

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