Cable hangs onto 1.5030 as UK construction PMI disappoints

A very soggy November reading has sent the pound lower again

As per my preview we've fallen rapidly to 1.5030 bids after breaking down through 1.5050 ( see? I really don't make these levels up!)

Currently back to 1.5043. I hope the jobbers took advantage to get some profit locked in

EURGBP has broken up through decent offers/res into 0.7060 and 0.7050-55 should be key to hold now if we are to make further advances. Currently 0.7063

Best in 2026

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