GBP/USD down after housing data

The reluctance of the sterling is finally easing on Wednesday after the poor UK housing data. The Nationwide Housing Prices rose 0.6% over the last twelve moths in January vs. +1.2% expected and from +1.0% in the previous print.
Curiously, the cable did not follow it most related peer in yesterday’s sell-off, but it seems to be catching up in today’s session so far.
Manufacturing PMI in the UK is expected to come in slightly better than December’s at 49.8

The cross is trading lower at 1.5712 or losing 0.30% as of writing, facing the next resistance at 1.5810 (61.8% of 1.6167 – 1.5234) followed by 1.5830 (Upper Bollinger) then 1.5888 (high Nov.18) and 1.5931 (high Nov.15).
On the downside, a violation of 1.5747 (hourly sup Jan.31) would bring 1.5701 (hourly low Jan.31) then 1.5642 (low Jan.27) and 1.5612 (low Jan.25).


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