The post GBP trading well despite deeply contractionary mfg PMI – Scotiabank appeared on BitcoinEthereumNews.com.

Pound Sterling (GBP) is down 0.2% against the US Dollar (USD) and a mid-performer among the G10, trading relatively well despite a generally disappointing preliminary PMI release, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Trend in GBP/USD remains bullish “The manufacturing print disappointed with a relatively deep contractionary print of 45.1 while services climbed just above the expansion threshold, printing 50.2.” “The trend in GBP/USD remains bullish, with consolidation just below Wednesday’s multi-year high. The RSI is just below 60, leaving ample room for further near-term gains. Near-term support is expected below 1.33.” Source: https://www.fxstreet.com/news/gbp-trading-well-despite-deeply-contractionary-mfg-pmi-scotiabank-202505221135

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Filed under: News - @ May 22, 2025 1:22 pm