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GBP/USD clings to gains below 1.5200

FXStreet (Edinburgh) - The pound continues to give away initial gains vs. the greenback, and is now sending GBP/USD to the area of 1.5195/90.

GBP/USD capped by 1.5240

After hitting session tops around 1.5240 during the European morning, spot triggered a correction lower in response to the key Services PMI in the UK economy during September, coming in below consensus and previous reading.

Ahead in the session, the US calendar will remain in the centre of the debate with the ISM Non-manufacturing, Markit’s Services PMI and the Fed’s Labor Market Conditions Index.

GBP/USD significant levels

As of writing the pair is up 0.04% at 1.5193 with the next resistance at 1.5245 (high Oct.5) followed by 1.5261 (high Sep.25) and finally 1.5364 (high Sep.23). On the flipside, a break below 1.5168 (low Oct.5) would aim for 1.5137 (low Oct.2) and then 1.5107 (low Oct.1).

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