GBP/USD remained firm at the start of the second half of the year in the area around 1.2690; manufacturing activity slowed following the release of data in the United States (US). Meanwhile, data from the UK showed a slight improvement but remained in recession territory. At the time of writing, GBP/USD is trading at 1.2690, almost unchanged. Read more…
The pound sterling (GBP) is showing a non-directional performance above key support at 1.2660 as UK global manufacturing PMI (June) beat expectations. Economic data jumped to 46.5 versus expectations and an earlier release of 46.2. The GBP/USD pair generally looks well supported as inflationary pressures in the UK region remain above 8.5% and show no signs of easing despite tight monetary policy. Read more…
The GBP/USD pair is struggling to gain some meaningful traction on the first day of the new week, oscillating in a narrow trading range around the 1.2700 mark during the Asian session. Spot prices, meanwhile, remain below Friday’s swing high and are currently struggling to break above the 200-hour simple moving average (SMA). Read more…