STERLING BEARISH AFTER UK SERVICES DATA
The British pound has started to move lower against the U.S dollar, after the United Kingdom economy posted weaker than expected monthly PMI Services data. The GBPUSD pair currently trades around the 1.3580 level, after finding strong technical support from the 1.3559 level on Wednesday. Sterling traders now look to further downside pressure below 1.3600 level, and the release of U.S Jobs and Manufacturing data.
The GBPUSD is only short-term bullish while trading above the 1.3600 level, key resistance is found at the 1.3665 and 1.3710 levels.
Should the GBPUSD pair start to trade below the 1.3559 level again, sellers may test towards the 1.3528 and 1.3500 levels.