The weaker than expected mftg PMI data has sent the pound lower 1 Aug 2016
Softer than expected UK mftg PMI sees cable testing Asian lows of 1.3200 and EURGBP up to Asian 0.8461 highs.
Mftg sector not a huge one for GDP but it all adds to the gloomy picture currently being painted.
Bids at 1.3200 then more at 1.3180 down to 1.3150. Res/offers now into 1.3230 then 1.3250.
Strong offers/res back in place between 1.3300-20. Keep selling those rallies. You know it makes sense. Good two-way business though if you want to buy dips but that remains the risk side imho.
