FXstreet.com (Barcelona) – The sterling is grinding lower on Tuesday, following its European peer, trading above the key level of 1.5500 ahead of UK data to be released later on. May Industrial production and manufacturing production are expected to come in lower than April, showing a sluggish pace in the British economy. Trade deficit is expected to be a hair better, at £9.0 billion vs. £10.10 previous.
GBP/USD is now losing 0.10% at 1.5510 with the next support lying at 1.5470 followed by 1.5454 then 1.5437 and 1.5404
On the flip side, a breakout of 1.5551 would expose 1.5590 then 1.5598 and 1.5623