GBPUSD awaiting UK services data
The British pound is trading towards the best levels of the week against the US dollar ahead of the release of key PMI Services data from the United Kingdom economy this morning. The GBPUSD pair has been overlooking weaker than expected UK data this week, with bulls now needing to send price above the former weekly high, at 1.2747. Overall, buyers now have the upper hand in the short-term, despite the bearish monthly candle and the uncertainty towards the UK political landscape.
The GBPUSD pair is only intraday bearish while trading below the 1.2655 level, key support is located at the 1.2600 and 1.2550 levels.
The GBPUSD pair is bullish while trading above the 1.2655 level, key intraday resistance is found at the 1.2747 and 1.2800 levels.