GBP/USD cycled on Monday just above 1.2900 with low momentum.
A quiet start to the week gives way to key data prints for both the US and the UK.
Wednesday kicks off the week’s meaningful data with UK and US PMIs.
GBP/USD slid sideways on Monday, churning just north of 1.2900 as markets take a breather from last week’s late surge in Greenback bidding. The Cable is cycling an intraday technical level near 1.2925 as markets brace for a fresh round of key data due on both sides of the Atlantic beginning on Wednesday.
Monday opened the new trading week on a quiet note as the economic data docket remains thin for the early week. Tuesday brings mid-tier US Existing Home Sales Change for June, while GBP/USD traders will be looking ahead to Wednesday’s double-header of Purchasing Managers Index (PMI) data prints. The UK’s Manufacturing and Services PMI for July are expected to tick up slightly, with MoM Services PMI numbers expected to print at 52.5 compared to the previous month’s 52.1.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.