Flash: GBP/USD propelled by UK PMI data - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the better than expected July UK services PMI helped to propel GBP/USD higher on Monday with the pair firming past 1.5300.

Key Quotes

“The Sterling may however remained contained ahead of the BOE Inflation Report this week.”

“In the interim, a soggy dollar may see the pair remaining supported on dips with the 55-day MA (1.5297) serving as a near term support while upside way points are expected towards 1.5380/000.”