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Trader, analyst and instructor with a 6-year experience

GBP: Manufacturing PMI disappoints

UK manufacturing PMI came at a 17-month low of 51.6 in August versus 52.6 forecasted. July reading was revised down to 52.2. Pace of UK growth is clearly slowing down in the second half of the year. 

GBP/USD dipped to $1.6160 support on the news, but met buying interest and recovered into the $1.6180 area.

 

 

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