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Oct 04 - 06:55 AM

GBP/USD - Tests 1.21 Resistance After UK PMI Revised Up

By Rob Howard  —  Oct 04 - 04:45 AM
  • Cable pushes recovery envelope from 1.2039 to 1.2103 after UK data revision

  • UK Sept services PMI revised up to 49.3 vs 47.2 flash estimate

  • 1.2039 was 29-week low at 0703 GMT, as higher UST yields lifted dollar

  • Offers around 1.2100 (former support point) capped GBP/USD on Tuesday

  • US ADP jobs data due 1215 GMT; 153k f/c. ISM services PMI 1400 GMT; 53.6 f/c

  • UK PM Sunak to address annual Tory Party conference in Manchester today

Source:
Refinitiv IFR Research/Market Commentary

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