Flash: GBP/USD was partially propped up by better PMI – OCBC Bank

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank says that GBP/USD was also partially propped up by a better than expected October Construction PMI ahead of today's services PMI.

Key Quotes

“Coupled with the corrective move in the broad dollar, the GBP/USD managed to regain the 1.5950 handle but if the 55-day MA (1.5924) is punctured going ahead, another leg towards 1.5900 and then 1.5825 cannot be ruled out.”