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Nov 22 - 08:36 AM
GBP/USD - 1.2888 Flips To Resistance After UK PMI Misses
First appeared on eFXplus on Nov 22 - 06:45 AM
  • Cable tests 1.2888 (former support point) after firming from 1.2864

  • 1.2864 = one-week low. 1.2888 was Wednesday's low (1.2893 = Thursday's low)

  • Drop to 1.2864 was spurred by weaker than expected UK PMIs nL8N28226V

  • GBP/USD dropped to threaten 1.2888 before the UK PMI data nL2N28206Q

  • Recovery rally from 1.2864 aided by some profit-taking on GBP shorts

  • 1.2927 was the early Europe intra-day high (1.2921 was Asian session high)



GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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