Preview Mode

Search Directory
Search Directory
  • Add
    Company
Home
> Forex Brokers
> AG Markets
> GBP/USD drops to lows post-PMI near 1.2230
Disclaimer

GBP/USD drops to lows post-PMI near 1.2230

AG Markets

Disclaimer

GBP/USD has quickly fell to fresh daily lows following the release of the always-relevant Services PMI in the UK economy.

GBP/USD offered on data, eyes on Yellen

Spot met fresh selling interest after Services PMI tracked by Markit surprised to the downside today, retreating to 53.3 during February vs. initial estimates at 54.2.

The ongoing correction lower is expected to gather extra traction in light of the bearish backdrop surrounding the Sterling as of late, as jitters on Brexit have re-emerged following the recent decision by the House of Lords to amend the Brexit bill.

In addition, the greenback is expected to resume its upside amidst rising bets on a potential rate hike by the Federal Reserve at the March meeting.

GBP/USD levels to consider

As of writing the pair is losing 25% at 2235 and a break below 1.2197 (low Dec.28 2016) would expose 1.2036 (low Jan.11). On the flip side, the initial up barrier aligns at 1.2308 (high Mar.2) followed by 1.2390 (55-day sma) and then 1.2410 (100-day sma).

AG Markets Review

Source: https://www.ag-markets.com/news/
Disclaimer

Follow Us

Looking for a Service?

Looking for a Service?

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

Advisory warning: Finance Magnates™ is not an investment advisor, Finance Magnates™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and Finance Magnates™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Finance Magnates™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.

Finance Magnates is a global B2B provider of multi-asset trading news, research and events with special focus on electronic trading, banking, and investing. Copyright © 2026 "Finance Magnates CY Ltd." All rights reserved.
For more information, read our Terms, Cookies and Privacy Notice Manage Cookies

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}