The British Pound bounces 182 pips from 6 months low .
A flat end to the trading week, GBP/USD recovered back to 1.3752 after dipping down to 1.357 in a week that started at 1.3749. (Start trading The British Pound at FXTM today).
This in-between state for The British Pound is reflected by market data published as United Kingdom Composite PMI fall short of the 61.9 projections, with 57.7 and continued its downward trajectory from previous figure of 62.2. United Kingdom Services PMI fall short of the 62 projections, with 57.8 and continued its downward trajectory from previous figure of 62.4. United Kingdom Manufacturing PMI published today at 8:30 AM came out at 60.4, falling short of the 62.7 projections and continuing its decline from the previous 63.9 figure. United Kingdom Retail Sales comes out at 0.5%, above the estimate of 0.4%. This is also a step forward from the previous data of -1.3%. United Kingdom Core Retail Sales published today at 6:00 AM came out at 7.4%, falling short of the 8.2% projections and continuing its decline from the previous 21.7% figure.
Other markets show mixed performance as Euro/Yen fell to 128.57, hitting a 4 months low. At 109.06, Dollar/Yen is down to its lowest value in 2 months.
Outlook for rest of the week: Data to be released later might clear up some of the fog for The British Pound as United States Core Durable Goods Orders projected to outperform last figure with 0.8% while it previously stood at 0.3%, data will be released Tuesday.
