GBP/USD: Rebound remains capped below 1.1800 amid mixed UK PMIs, bear cross

GBP/USD: Rebound remains capped below 1.1800 amid mixed UK PMIs, bear cross GBPUSD PMI Technical Analysis Currencies DollarIndex

The US dollar maintains the pullback amid cautious optimism, weaker Treasury yields.GBP/USD

While activity in the services sector remained near July's 52.6, the manufacturing component tumbled to 46.0 in August from 52.1 in July, its lowest since May 2020. Despite the renewed upside, cable remains vulnerable, as the state of the UK economy remains dire amid surging inflation, the European gas crisis and political concerns., the price is clinging to the critical support line at 1.1760. A daily closing below the latter is required to cement the ongoing downtrend towards the falling trendline support at 1.1565.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GBP/USD Forecast: Pound needs to reclaim 1.1800 to extend recoveryGBP/USD has extended its slide to a fresh multi-year low of 1.1718 on Tuesday but managed to recover its daily losses during the European trading hour
Read more »

European Energy Prices Fueling British Pound, Euro WeaknessBoth EUR/USD and GBP/USD rates hit fresh yearly lows. European and UK natural gas prices rallied to all-time highs, as did prices on future contracts for Germany. Surging energy prices increased speculation around a deeper economic downturn.
Read more »

USD/CAD retreats from one-month high, downside remains cushioned amid stronger USDUSD/CAD retreats from one-month high, downside remains cushioned amid stronger USD – by hareshmenghani USDCAD Recession Fed RiskAversion Currencies
Read more »

GBP/USD Forex Signal: Bears in Control, Relief Rally LikelyThe GBP/USD price crashed to the lowest level since July as the US dollar rose across the board.
Read more »

EUR/USD bears sink in their teeth deeper below parityEUR/USD has been marking fresh lows below parity in the New York session. The cross has fallen from a high of 1.0046 to a low of 0.9926 on the day so
Read more »

AUD/USD bulls move in, but the bears are lurking amid global economic woesAUD/USD bulls are attempting to stabilise the pair following a test of daily lows at the start of the week. The price dropped from a high of 0.6929 to
Read more »