GBP/USD Current price: 1.3236

  • UK Markit Services PMI Index up to 55.1 in June from 54.0 in May.
  • Thin holiday trading prevented GBP/USD from appreciating further.

The GBP/USD pair recovered the 1.3200 level on the back of another strong macroeconomic figure coming from the UK. advancing to a fresh weekly high of 1.3249 amid broad dollar's weakness in the US afternoon.  The seasonally adjusted Markit Services PMI Index posted 55.1 in June, up from 54.0 in May, following strong readings also in the manufacturing and construction indexes. According to the official report, the latest upturn in service sector output was supported by the strongest increase in new work since May 2017.  The pair ended the day near its daily high at 1.3227, getting a boost from ECB's related news, although the reaction was limited due to mute activity on the US holiday. This Thursday, the only fundamental event is BOE's Governor Carney speaking in Newcastle, although it could be a non-event. Meanwhile, the 4 hours chart presents an increasing upward potential, with an intraday decline having found buying interest around its 20 SMA, which partially lost upward strength due to thin trading, as technical indicators head higher within positive territory about to challenge their weekly highs.

Support levels: 1.3220 1.3185 1.3140     

Resistance levels:  1.3265 1.3300 1.3335

View Live Chart for the GBP/USD

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD trades below 1.1450 despite disappointing US data

EUR/USD is having a difficult time gathering bullish momentum in the early American session and trades in the negative territory below 1.1450. The US Census Bureau reported on Friday that Retail Sales in December fell by 1.9%, missing the market expectation of a no-change by a wide margin.


GBP/USD drops below 1.3700 as dollar gains traction

GBP/USD stays under modest bearish pressure in the American session and trades below 1.3700. The US Dollar Index is clinging to modest daily recovery gains near 95.00 despite weaker-than-forecast macroeconomic data releases from the US.


Gold fluctuates in daily range above $1,820 after US data

Gold declined to $1,820 during the European trading hours but managed to edge higher toward $1,830 in the early American. The benchmark 10-year US Treasury bond yield retreated from 1.75% after the dismal US data, allowing XAU/USD to gain traction.

Gold News

Dogecoin price on track to hit new highs, rallying 16% with Tesla payments going live

Tesla announced that it accepts Dogecoin and cannot receive or detect any other cryptocurrency. Analysts have predicted an explosive rally in Dogecoin price, continuing the uptrend. 

Read more

Why did TSLA stock fall 7% on Thursday?

Tesla stock dumps on Thursday as tech takes a bath. TSLA shares fell nearly 7% to close at $1,031.56. Tesla support at the short-term pivot remains at $980.

Read more