1
GBP reaction to services PMI looks a bit overdone
Watching the $GBPUSD move today, seeing it drop to 0.81345 after the services PMI data feels a bit like an overreaction. While the numbers weren't stellar, the market's initial swing down almost touching 0.813 seems to have priced in quite a bit of negativity already. I'm keeping it on my watchlist for potential rebound plays if we don't see further significant bearish catalysts, especially as it approaches the lower end of its recent range. Meanwhile, $ZARUSD is holding strong at 0.06104525, which is interesting to observe against this broader FX volatility.
0 comments · 1 points