It's still looking bad for the pound despite some positive news from the data
While the main industrial production number was lower, manufacturing managed its best monthly gain since Apr 2014
Even the trade deficit fell as exports rose 0.4% vs 5.8% in Aug and imports fell 2.6% vs -0.4% prior
While that looks good on the month it doesn't improve the balance for the quarter (3m exports came in at 1.7% vs 5.3% prior, and imports 7.8% vs 7.1% prior). That's set to hit the next Q3 GDP revisions
The quid hasn't taken anything from the numbers as it continues to drip lower. 1.5170 put up a timid fight for a while but there's no appetite to buy it right now
Technically there's a bit of traffic between here and the late Sep lows at 1.5100/05. There's also reasons to see support from there down to 1.5085 at the early May lows
GBPUSD daily chart
Further down we have the 61.8 fib of the 2015 low swing up at 1.5044
Over night 1.5220 became resistance and now we're properly through 1.5170, that should start to become resistance too, ahead of 1.5200
As we've seen over recent months, the pound tends to move in waves that can last days, with little retracement. Another period like previously could see us on the way to 1.50 or worse. With virtually no figures out until next Wednesday's jobs report, there won't be any help coming from the UK data. If the US jobs data disappoints today that may give any offside longs a chance to get back some of the losses but it will be looked at as another gift horse for sellers