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GBP/USD eases back as markets gear up for data-laden midweek

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GBPUSD News

PMI,Fed

GBP/USD eased lower on Tuesday to decline one-fifth of one percent as traders buckle up for a hectic midweek market session after a quiet start to the trading week.

GBP/USD declined one-fifth of one percent on Tuesday. A quiet start to the week ends with Wednesday’s double-header PMI data. US GDP due on Thursday, PCE inflation on Friday. S&P Purchasing Managers Index activity figures are due on both sides of the Atlantic, and further key US data is due throughout the back half of the trading week.

3045, however the pair remains buried deep in bull country, trading well above the 200-day Exponential Moving Average at 1.2629. An extended decline will see the pair dropping through the 50-day EMA at 1.2772, but bidders will be looking for a quick pivot into fresh 52-week highs above 1.3050. GBP/USD hourly chart GBP/USD daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom.

 

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