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Jun 23 - 05:55 AM

GBP/USD - Drops Through 1.22 Before UK June PMI Data

By Rob Howard  —  Jun 23 - 03:55 AM
  • Cable falls to 1.2176 after worse than expected French and German June PMIs

  • See: nZRN004KDJnZRN004KDP. UK June PMIs due 0830 GMT; service f/c 53.0

  • 1.2176 = intra-day low. 1.2163 was Wednesday's low (after UK inflation data)

  • 1.2200 is now a resistance level, with 1.2232 (Asian session low) beyond

  • Leaping debt costs add to UK government borrowing in May nL8N2YA0XF

  • UK PM Johnson faces prospect of brusing by-election defeats nL8N2Y72TU

Source:
Refinitiv IFR Research/Market Commentary

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