FXStreet (Edinburgh) – The sterling is giving away part of it early gains vs. the greenback, sending GBP/USD back to the area of 1.5620.
GBP/USD still above 1.5600
In spite of the ongoing correction lower, the pair manages well to keep the trade above the 1.5600 handle, backed by and extension of the weakness surrounding the greenback post-Payrolls.
In the data space, Services PMI in the UK surprised investors to the upside during June, although the impact on spot was little due to today’s unusual low levels of volatility.
GBP/USD relevant levels
As of writing the pair is up 0.10% at 1.5625 with the next hurdle at 1.5734 (high Jul.1) followed by 1.5775 (high Jun.30) and finally 1.5789 (high Jun.29). On the downside, a breach of 1.5582 (low Jul.2) would aim for 1.5542 (low Jun.16) and then 1.5487 (low Jun.15).
(Market News Provided by FXstreet)