GBP/USD Outlook: Recovery Loses Traction Despite Upbeat PMI Numbers

<p>Cable probed briefly above 1.2500 level and hit session high at 1.2512, in immediate reaction to upbeat UK PMI data, but subsequent quick easing signaled that recovery faces strong headwinds. Data showed significant improve in manufacturing (June PMI 50.1 vs 45.0 f/c) and services (June 47.0 vs 40.0 f/c) sectors, following opening of the economy [&#8230;]</p>
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