GBP/USD Runs into Resistance and Disappointing Manufacturing Data

From forexminute.com

The GBP/USD started this week with a new low on the year at 1.5540, then immediately rebounded. The pullback was due to meet resistance around 1.5660-1.5680, where we have a the 100- and 50-hour SMA in the 4H chart as well as a falling speedline coming down from the 1.5825 pivot in November. Resistance: The 4H chart shows that price has indeed pushed at the 1.5680 area (up to 1.5695), and briefly cracked the 200- and 100-period SMAs as well as the falling speedline. During early 12/9 European session, UK’s Office of National Statistics reported worse than expected manufacturing production data: UK Manufacturing ... (full story)