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May 21 - 06:55 AM

GBP/USD - Holds Close To 1.42 After Big UK Mfg PMI Beat

By Rob Howard  —  May 21 - 04:50 AM
  • Cable rises to 1.4196 after May's big UK mfg PMI beat, 66.1 vs 60.5 f/c

  • UK service PMI came in slightly below f/c, 61.8 vs 62 expected nL2N2N80KA

  • 1.4201 was early London high after April's big UK retail sales data beat

  • See: nL2N2N80CInL2N2N80FY. 1.4168 was pullback low from 1.4201

  • Resistance levels beyond the early London high include 1.4220/40 and 1.43

  • 1.4220 was Tuesday's 12-week peak. 1.4240 was February's 34-month high

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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