Today at 09:30 GMT will be released the UK Services PMI for November, which should see a little decrease from 54.5 to 54.0. Latest data from services PMI had been showing an overall positive performance, despite current UK situation after Brexit’s referendum. Since September, the number has been better-than-expected and November’s number should help to cap further gains in the Sterling against other currencies, but that could last in a short-term view.
Our technical overview for GBP/USD at H4 chart is still showing an enough room to rise towards the 1.2867 level, which is our first and key resistance zone to pay attention to the upside. If the UK services PMI’s data comes in above the expectations, that bullish momentum could be fueled and make the pair to test the levels mentioned above, while a disappointing number can weigh on the GBP/USD pair and send it towards the 200 SMA around 1.2400.
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Origin: FX BAZOOKA
