GBP/USD around 1.3540 on UK data, looks to BoE

• Cable keeps the offered tone around the 1.3540 region on Thursday.
• UK’s Manufacturing Production contracted 0.1% MoM in March.
• BoE likely to leave rates unchanged at today’s meeting.

The Sterling stays in the negative territory vs. the buck on Thursday and is now taking GBP/USD to the 1.3540 zone following releases in the UK docket.

GBP/USD steady ahead of BoE

Cable remained apathetic in the wake of UK publications today, where Manufacturing Production contracted less than expected 0.1% MoM in March and 2.9% over the last twelve months.

Further data saw Industrial Production expanding 0.1% inter-month and 2.9% on a yearly basis. In addition, Construction Output contracted 2.3% MoM and 4.9% on an annualized basis.

In the meantime, the pair is extending the consolidative theme in play since the beginning of May above 1.3500 the figure and ahead of the critical BoE interest rate decision and Inflation Report due later in the European afternoon.

GBP/USD levels to consider

As of writing, the pair is losing 0.09% at 1.3536 facing the next support at 1.3487 (low May 4) seconded by 1.3457 (2018 low Jan.11) and finally 1.3400 (psychological level). On the upside, a break above 1.3604 (10-day sma) would aim for 1.3658 (2017 high Sep.20) and then 1.3712 (low Mar.1).