The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector.
The U.K Manufacturing PMI fell 51.5 , from 51.9 in the previous month , the indicator was expected to rise 52.0 in the last month.
Market Impact : As long as 1.5400 resistance holds on a daily closing basis, outlook in GBPUSD remains on the downside towards the 1.5347/1.5225 levels, above 1.5400 faces a recovery risk towards the 1.5460/1.5510 levels before the next fall.
Stability below 1.5347 will pave the way towards the 1.5225 levels.
Note that EURUSD also falls after negative UK data!!!
Update : As long as 1.5407 resistance holds on a 4-hour closing basis, Intraday outlook in GBPUSD remains on the downside towards the 1.5275/1.2525 levels. Above 1.5407 will open 1.5510 before the next fall. Note that a daily closing below 1.5473 followed by a 4 hour closing below 1.5330 will accelerate the bearish move towards the 1.5225 levels as daily as 4-hour charts suggest.