GBP/USD recovers after UK services PMI, good to sell on rallies

FX:GBPUSD   British Pound / U.S. Dollar
315 0 5
Cable recovered slightly till 1.5445 after release of UK service PMI. It is currently trading around 1.54345.

UK Business activity index rose for the first time since June, to 54.9 from 53.3 in Sep.

Overall trend is slightly weak as long as resistance 1.5500 holds.

On the higher side minor resistance is around 1.5450 and break above targets 1.5500.

The pair’s minor support is around 1.5400 and break below targets 1.5350/1.5320.

It is good to Sell on rallies around 1.5435-40 with 1.5500 for the TP of 1.5360/1.5325

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