• GBP/USD shed half of a percent as the Pound’s recovery against the US Dollar abruptly ends.
• Looming BoE appearances and global PMI figures to keep Pound momentum capped this week.
• Investors bucked on Monday after Fed officials cautioned that the pace of rate cuts may slow.

GBP/USD twisted into the low side on Monday, kicking off the new trading week with a fresh test south of the 1.3000 handle as Cable traders balk ahead of a hectic week that sees a slew of appearances from central bank figures, as well as an update on global Purchasing Managers Index (PMI) figures. 

Pound Sterling traders will be keeping an eye out for an appearance from Bank of England (BoE) Governor Andrew Bailey on Tuesday. However, the BoE head’s comments will be coming much later in the day as Bailey will be delivering speech notes at the Bloomberg Global Regulatory Forum in New York during the early US market session.

Global PMI figures are slated for a rolling release on Thursday, with UK figures kicking off the Cable docket. Median market forecasts are expecting a slight downtick in UK activity numbers, with October’s Services PMI specifically expected to ease to 52.2 from 52.4 the previous month.