GBP/USD offered above 1.53 ahead of UK data

By FXStreet FXStreet (Mumbai) – The GBP/USD turned lower from the high of 1.5313 to trade around 1.5295 ahead of the UK service PMI data release later today.

Eyes UK services PMI

The investors await the UK services PMI report, which could show the activity ticked up slightly to 57.6 in August from July’s 57.4. The manufacturing PMI released on Tuesday disappointed markets, while the rise in construction PMI was slightly less than expected.

Apart from the UK data, the investors shall also look towards the sentiment in the major European equities and accordingly adjust their positions in the risk currency GBP.

GBP/USD Technical Levels

The immediate support is seen at 1.5264 (previous session’s low), under which the spot could target 1.52. On the other side, resistance is seen at 1.5313 (daily high) and 1.5360 (200-DMA).
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Source:: FX Street