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Jun 03 - 11:55 AM

GBP/USD - Reclaims 1.27 Handle Before US ISM Mfg Index

By Rob Howard  —  Jun 03 - 09:35 AM
  • 1.2737 is high water-mark for cable since its London morning drop to 1.2694

  • The pound also fell vs euro during London morning, to 1.1717 intra-day low

  • US May ISM manufacturing index due at 1400 GMT; 49.6 f/c vs 49.2 in April

  • UK May manufacturing PMI revised down to 51.2, from 51.3 flash estimate

  • GBP/USD resistance levels include 1.2765 (Friday's high) and 1.2800

  • CFTC data showed net GBP long jumped after hotter than expected UK CPI data

Source:
Refinitiv IFR Research/Market Commentary

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