FXStreet (Mumbai) – The GBP/USD pair has consolidated around 1.5550 ahead of the US data, which could show service sector expanded at a faster pace in June.
Focus on US data
The investors await the ISM data in the US, which could show the services activity index ticked up to 56.2 in June. The Markit services PMI is also due for release. Apart from the economic data, the ECB’s decision regarding the liquidity assistance to Greek banks could also influence the broader market sentiment and the GBP/USD pair.
The spot had dipped to a low of 1.5533 earlier today, before rising back to the hourly 100-MA located at 1.5583. But the pair was once again offered at 1.5583, thereby pushing it to 1.5550.
GBP/USD Technical Levels
The immediate support is seen at 1.55, under which the pair could 1.5460 (61.8% Fib R of June rally). On the other hand, resistance is seen at 1.5568 (38.2% Fib R of of July 2014-April 2015 plunge) and 1.5538.
(Market News Provided by FXstreet)