GBP/USD: UK’s services sector activity surprisingly fell in June


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.14% against the USD and closed at 1.2579.

In economic news, UK’s services PMI unexpectedly eased to a level of 50.2 in June, defying market expectations for a steady reading. In the prior month, the PMI had registered a reading of 51.0.

In the Asian session, at GMT0300, the pair is trading at 1.2580, with the GBP trading a tad higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2560, and a fall through could take it to the next support level of 1.2539. The pair is expected to find its first resistance at 1.2598, and a rise through could take it to the next resistance level of 1.2615.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

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