U.K. Manufacturing production rises 0.4% in March, GBPUSD follows!

Forex 12654

Manufacturing Production measures the change in the total inflation-adjusted value of output produced by manufacturers. Manufacturing accounts for approximately 80% of overall Industrial Production.

The U.K Manufacturing production rises 0.4% in Mach, beating expecting 0.3% for an increase of 0.3 %, Last month It gained 0.5%.

This development boosts the GBPUSD, the pair printed support at the 1.5563 levels, At the moment the pair is around a strong resistance at the 1.5675 levels, a halt is likely, any pullback to the downside is likely to be limited by 1.5563/1.5588 levels before attacking the 1.5790 levels …

Anyway, a sustained breakout above the 1.5675 levels will pave the way towards the 1.5790 levels, If seen, Immediate support comes at the 1.5647 levels…

U_K_ Manufacturing production rises !