UK Manufacturing Production Rises 0.5% in Aug, GBPUSD: Recovery Continues !

forex man
forex man

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 UK Manufacturing Production rose 0.5%, from -0.7% in the previous month, the indicator was expected to rise to 0.3% in the last month.

This development should advance the GBPUSD , Immediate support comes at the 1.5223 levels, stability above this level could mean a push back higher, resistance comes at the 1.5288 levels where a break will pave the way towards the 1.5365 levels, below 1.5223 could mean a return to the 1.5130 levels. Conclusion: The GBPUSD continues to face upside threats in the short term above the 1.5223 levels.