Overall, GBP/USD is ranging across. Recently, GBP/USD has been moving along the support level of 1.24400.
The U.K. Final Services PMI data (Actual: 13.4, Forecast: 12.3, Previous: 12.3) released yesterday indicated that the UK services sector contracted further in April.
The U.K. Construction PMI data (Forecast: 21.5, Previous: 39.3) will be released later at 1630 (SGT).
If the released data is worse than or as forecasted, GBP may weaken.
Currently, GBP/USD is testing the support level of 1.24400 and the next resistance level is at 1.26000.
Look for selling opportunities of GBP/USD if it breaks the support level of 1.24400.
The U.K. Final Services PMI data (Actual: 13.4, Forecast: 12.3, Previous: 12.3) released yesterday indicated that the UK services sector contracted further in April.
The U.K. Construction PMI data (Forecast: 21.5, Previous: 39.3) will be released later at 1630 (SGT).
If the released data is worse than or as forecasted, GBP may weaken.
Currently, GBP/USD is testing the support level of 1.24400 and the next resistance level is at 1.26000.
Look for selling opportunities of GBP/USD if it breaks the support level of 1.24400.