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    GBP/USD: Minor-recovery capped by 5-DMA, awaits UK PMI Dhwani Mehta

    The recovery from the mid-point of 1.32 handle lost legs just shy of 5-DMA at 1.3313, sending GBP/USD back below 1.33 handle.GBP/USD better bid amid risk-onCurrently, GBP/USD trades 0.14% higher at 1.3288, retreating from 1.3308 session highs. The cable found some support from improved risk environment as the Asian equities turned higher, as dust settled over the Brexit aftermath, while focus now turns towards the fundamentals for further momentum.Earlier on the day, the GBP/USD pair attempted a recovery from strong US ISM manufacturing PMI data-led sell-off to 1.3215 levels reached last Friday. However, the recovery lost pace as markets now anticipate a weaker UK construction PMI print, likely to be published later today.GBP/USD Levels to consider The pair has an immediate resistance at 1.3313 (5-DMA), above which 1.3350 (psychological levels) would be tested. On the flip side, support is seen at 1.3247 (Daily low) below that at 1.3202 (Jun 30 low).

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