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GBP/USD holds above 1.3300 after strong UK retail sales and PMI data

FXStreet said the pair’s upside is capped as investors stay cautious amid further escalation of Middle East tensions.

Reported · Written up by our desk · Major Pairs

FXStreet said GBP/USD was holding small gains above 1.3300 in the American session after a sharp prior decline, supported by stronger UK Retail Sales and July PMI data.

The outlet added that despite the positive UK indicators, the pair’s upside remained capped as investors took a cautious stance amid further escalation of tensions in the Middle East.

FXStreet also noted that US July PMI data failed to trigger notable price action, while EUR/USD pressured daily lows below 1.1400 and gold climbed above $4,050 amid a modest US dollar pullback.

Latest closeGold $4,051.10 ▼2.3%|EUR/USD 1.138 ▼0.2%|GBP/USD 1.331 ▼0.5%

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