FXStreet (Mumbai) – The GBP/USD pair is hovering around 1.5610 levels ahead of the UK data, which could show the rate of growth in the services activity ticked higher in June.
Focus on UK data and EUR/GBP cross
The service sector has the highest weight in the UK economy. Consequently, the investors are eyeing the UK services PMI (exp 57.4, prev 56.5). The services report comes after a dismal manufacturing PMI and upbeat construction PMI released earlier this week.
Furthermore, the investors shall also keep an eye on the EUR/GBP pair, which could see volatility ahead of the Sunday’s Greek referendum.
GBP/USD Technical Levels
The immediate resistance is seen at 1.5638, above which the pair could rise to 1.5667. On the flip side, a break below 1.56 could see the pair drop to the previous session low of 1.5564.
(Market News Provided by FXstreet)