GBP/USD futures volumes surge on the back of the PMI beat, putting spot at fresh session highs. Over 3,000 contracts traded in the reaction (cash equivalent ~ $250mln) - putting the pair to just below the Feb16 high at 1.2075.
1.2092 (50% retracement for the Feb14 - Feb 17 downleg) sits as next intraday resistance.

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GBP/USD futures volumes surge on the back of the PMI beat, putting spot at fresh session highs. Over 3,000 contracts traded in the reaction (cash equivalent ~ $250mln) - putting the pair to just below the Feb16 high at 1.2075.
1.2092 (50% retracement for the Feb14 - Feb 17 downleg) sits as next intraday resistance.

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GBP/USD Nears Next Resistance on PMI Beat