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Aug 05 - 06:55 AM

GBP/USD - Remains Above 1.39 Despite UK Data Miss Pre-BoE MPA

By Rob Howard  —  Aug 05 - 05:06 AM
  • 1.3905 is low for GBP/USD since its half-cent climb to threaten 1.3925

  • See: nL1N2PC0F6. 1.3925 = 61.8% Fibo of 1.3957 (Wednesday high) to 1.3873

  • UK July construction PMI 58.7 vs 64.0 f/c, lowest since Feb nZRN002HN4

  • UK service PMI was upwardly revised to 59.6 from 57.8 Wednesday nZRN002HMH

  • BoE MPA at 1100GMT, with 6-2 vote to keep QE running at full speed expected

  • See: nL8N2PB6M5nL8N2P63DF. Hawkish BoE might inflate GBP nL1N2P90IH

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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