GBP/USD trapped between BoE sentiment and technical breakout range

GBP/USD trapped between BoE sentiment and technical breakout range

From fxstreet.com

At 1.2220, GBP/USD is down on the day so far by some 0.33%, falling from a high of 1.2294 to a low of 1.2170 so far after UK PMIs came in roughly in line with expectations in June and in choppy market conditions. It's been a two-way street in global equities, with a rally in the US session vs risk-off day overnight with European bourses pressured overall. The euro was impaired by poor local PMIs which lifted the US dollar index, DXY, to a 104.78 peak that pressured peers in turn, including the pound. However, yesterday’s UK inflation print coupled with today's UK PMI outcome underpins sentiment that the UK's ... (full story)

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