GBP/USD regained 1.5280, US data eyed

By FXStreet FXStreet (Edinburgh) – After dropping to the 1.5230 area post-PMI, GBP/USD has managed to gather some traction and retake the 1.5280 area, albeit still trading with losses.

GBP/USD in multi-month lows

The pair is retreating since Monday and is navigating levels last seen in July in response to the re-emergence of a bid tone around the dollar in the global markets. In addition, UK’s Services PMI has missed expectations during August, adding to the selling interest and relegating spot to the 1.5230 region in the wake of the release.

Next of relevance will be US Initial Claims (275K) followed by the more relevant ISM Non Manufacturing, expected to ease to 58.1 in August from 60.3 in the previous month.

GBP/USD levels to watch

As of writing the pair is losing 0.17% at 1.5273 with the immediate support at 1.5238 (low Sep.3) followed by 1.5221 (low Jun.8) and then 1.5190 (low Jun.5). On the upside, a breakout of 1.5322 (high Sep.1) would target 1.5409 (high Sep.1) and finally 1.5443 (high Aug.28).
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Source:: FX Street