“¢  UK manufacturing/industrial production data fall short of consensus estimates.   “¢  A modest pickup in the USD demand further collaborates towards capping gains. The GBP/USD pair quickly reversed an early European session dip to an intraday low level of 1.3223, albeit struggled to build on its momentum beyond the 1.3300 handle post-UK data. The pair managed to regain positive traction on Tuesday and recovered a major part of overnight losses triggered by news of Boris Johnson’s resignation as Foreign Minister. The up-move, however, fizzled out near the 1.3300 handle following the release of weaker-than-expected UK macroeconomic releases. In fact, the UK industrial production data showed an unexpected contraction of 0.4% in May and manufacturing output also fell short of consensus estimates. A combination of disappointing manufacturing data seems to have negated mostly in line UK monthly GDP figures, coming in to show m/m growth of 0.3% for May.  Meanwhile, a modest pickup in the US Dollar demand further collaborated towards capping any strong follow-through gains, with the pair quickly retreating around 30-35 pips in reaction to the mixed UK economic data. Technical levels to watch Immediate support is pegged near the 1.3255-50 region, below which the pair is likely to head back towards challenging the 1.3200 handle. On the flip side, sustained move back above the 1.3300 handle could get extended but might continue to face stiff resistance near mid-1.3300s (50-day SMA).  FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China raises anti-dumping tariff rates on optical fibre products from the US FX Street 4 years   "¢  UK manufacturing/industrial production data fall short of consensus estimates.   "¢  A modest pickup in the USD demand further collaborates towards capping gains. The GBP/USD pair quickly reversed an early European session dip to an intraday low level of 1.3223, albeit struggled to build on its momentum beyond the 1.3300 handle post-UK data. The pair managed to regain positive traction on Tuesday and recovered a major part of overnight losses triggered by news of Boris Johnson's resignation as Foreign Minister. The up-move, however, fizzled out near the 1.3300 handle following the release of weaker-than-expected UK macroeconomic… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.