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Jun 24 - 03:55 AM

GBP/USD - Respects 55DMA After PMI Data-Spurred Fall

By Rob Howard  —  Jun 24 - 02:55 AM
  • Cable has traded a 19 pip range thus far Monday; 1.2633-1.2652

  • 1.2652 is highest level since Friday's five-week low of 1.2622

  • That low was plumbed on June's UK services PMI miss, US PMI beats

  • 1.2622 is three pips shy of 55DMA (stops tipped sub-1.2620, 1.2600)

  • Biden-Trump presidential debate this week. UK election next week (July 4)

  • M&A news: Carlsberg has until July 19 to raise 3.1 billion pound Britvic bid

Source:
Refinitiv IFR Research/Market Commentary

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