GBP/USD stages a goodish rebound from three-month lows set on Thursday. A modest USD pullback from multi-year tops remained supportive of the move. Mixed UK flash Manufacturing/Services PMI did little to provide any fresh impetus. The GBP/USD pair maintained its bid tone near session tops – around the 1.2920-25 region – and had a rather muted reaction to the mixed UK macro data. The pair managed to gain some positive traction on the last trading day of the week and built on the previous session’s intraday bounce from near three-month lows amid a modest US dollar pullback from multi-year tops. GBP/USD supported by retreating USD Fears surrounding the outbreak of coronavirus beyond China triggered a fresh wave of the global risk-aversion trade and led to a sharp downfall in the US Treasury bond yields, which prompted some USD profit-taking. Apart from the USD weakness, the uptick was further supported by stronger UK flash Manufacturing PMI, which remained in the expansion territory and came in at 51.9 for February vs. a dip to 49.7 expected. The positive reading, to some extent, was offset by a slight disappointment from the UK flash Services PMI, which edged lower to 53.3 during the reported month as compared to 53.4 anticipated and 53.9 previous. It, however, remains to be seen if the pair is able to capitalize on the recovery or meets with some fresh supply amid persistent fears that Britain might crash out of the European Union at the end of the transition period. Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. FXStreet News share Read Next South Korea: BoK likely to hold base rate – Standard Chartered FX Street 2 years GBP/USD stages a goodish rebound from three-month lows set on Thursday. A modest USD pullback from multi-year tops remained supportive of the move. Mixed UK flash Manufacturing/Services PMI did little to provide any fresh impetus. The GBP/USD pair maintained its bid tone near session tops – around the 1.2920-25 region – and had a rather muted reaction to the mixed UK macro data. The pair managed to gain some positive traction on the last trading day of the week and built on the previous session's intraday bounce from near three-month lows amid a modest US dollar pullback from multi-year tops.… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
