GBP/USD - Scope for further gains if UK PMI beats estimates
Resistance - 1.4805, 1.4844, 1.49
Support - 1.4740, 1.47, 1.4650
Support - 1.4740, 1.47, 1.4650
- GBP/USD extended gains in Europe to a high of 1.4764 levels following a bullish break from the larger falling trend line level on daily chart.
- The move is largely due to broad based USD selling, Markets haven't priced-in a slight uptick in the UK services PMI.
Consequently, 1.48 could be put to test if the PMI blows past expectations.
- On the other hand, an in line with estimates figure/weaker-than-expected figure could become a reason for technical correction.
