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The June flash PMI readings from the manufacturing and services sectors are comin’ right up! Will improvements give the pound a boost?

Here’s a shortlist of market events you need to watch out for:

Flash PMI readings (June 23, 9:30 am GMT)

  • Provides an early glimpse into how the manufacturing and services sectors fared in the current month
  • Also considered a leading indicator of economic activity
  • Readings above 50 reflect industry expansion, below 50 signals contraction
  • June manufacturing PMI projected to have climbed from 40.7 to 45.2
  • June services PMI probably improved from 29.0 to 39.1

Mid-tier U.K. data

  • CBI industrial order expectations (June 22, 11:00 am GMT) to rise from -62 to -50
  • CBI realized sales (June 25, 11:00 am GMT) to climb from -50 to -35

Technical snapshot

  • Stochastic shows that most pound pairs are looking bullish near the overbought region.
GBP Pairs Stochastic from MarketMilk
GBP Pairs Stochastic from MarketMilk
  • GBP/CHF and GBP/JPY are looking most bullish of the bunch while EUR/GBP is in the oversold region.
  • However, long-term trend strength analysis from moving averages paints a different picture.
  • The 200 SMA and 50 SMA suggest that most currency pairs are bearish while only EUR/GBP is in a bullish trend.
GBP Moving Averages from MarketMilk
GBP Moving Averages from MarketMilk

Missed last week’s price action? Read GBP’s price recap for June 15 – 19!