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GBP/USD Drops to Lows Near 1.3060 on PMI


Friday, 1 February 2019 17:45 WIB

PoundsterlingGBP/USD


c_740_198_16777215_00_images_assets_CURRENCY2_12Pound-rate-today.jpg

The British Pound is now accelerating the daily leg lower and is forcing GBP/USD to retreat to new daily lows in the 1.3080 region.

Cable is extending the negative mood in the second half of the week and is now trading at shouting distance from weekly lows in the mid-1.3000s, where sits the critical 200-day SMA.

The British Pound has intensified the negative mood today after the key UK manufacturing PMI came in at 52.8 in January, below expectations and down from December’s 54.2.

In the meantime, the absence of headlines from the Brexit front is at least noticeable, particularly following the events seen earlier in the week. All in all, the lack of fresh news seems to be weighing on GBP so far.

Source : FX Street


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