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GBPUSD went down due to U.K. data January 3 2013

ForexZig.com January 3, 2013
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GBPUSD

The pound was traded lower against the greenback today in GBPUSD, after unsatisfying U.K. data and as concerns over the U.S. debt ceiling became bigger, in spite of the recent statement of a highly awaited American budget deal.

During the European morning trade, the currency pair GBPUSD hit the level 1.6202, the lowest level for this pair since December 31. Later on the pair found consolidation at 1.6233, going down with 0.13%.

GBPUSD was supposed to find support at 1.6134, bottom from December 31 and resistance at 1.6274, peak from December 31.

Markit research firm and the Chartered Institute of Purchasing & Supply announced that their U.K. construction purchasing managers’ index went down to a seasonally adjusted 48.7 in the previous month from a reading of 49.3 in November, slowing to a six-month bottom.

Experts thought that the index was about to go down to 49.5 last month.

At the same time, investors were still nervous over the longer term outlook in America, with negotiations on increasing the debt ceiling still to come in February.

The British pound was traded higher against the euro with EURGBP hitting the level 0.8091.

GBPUSD

GBPUSD, H1

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