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British Pound (GBP) Latest: GBP/USD Facing Resistance, FTSE Flat
Any potential upside for GBP/USD is again being held back by resistance from a downward sloping trendline marking the upper boundary of a channel in place on the charts for the past three weeks. Reinforcing that resistance is the 50-day moving average, which at 1.2404 also stands just above the current price.From a fundamental perspective, markets globally are weighing up some positive economic data against the surge in coronavirus infections in the US. This session, the June purchasing managers’ indexes for the manufacturing sectors in China and Australia both came in above expectations – and above the 50 mark ... (full story)