GBP/USD Outlook (3 December 2019)

Overall, GBP/USD has been ranging across. Recently, GBP/USD trended higher after the release of the poor U.S. ISM manufacturing PMI data.
The U.K. final manufacturing PMI data (Actual: 48.9, Forecast: 48.3, Previous 48.3) released yesterday was better than forecasted. Pound strengthened slightly as a result.
The U.K. construction PMI data (Forecast: 44.5, Previous: 44.2) will be released later at 1730 (SGT).
The U.K.’s construction sector is still in contraction. If the released data is higher than 50.0, pound may strengthen.
Currently, GBP/USD is moving towards the resistance level of 1.29800 and the next support level is at 1.27800.
Stay out of GBP/USD for now.