The services sector in the UK expanded at a slower pace. This was because of the negative impact of sales due to the coronavirus outbreak.
Data from IHS Markit showed that services PMI fell to 53.2 in February, down from 53.9 in January. It was also slightly below the flash estimates of 53.3
GBP/USD Trades Flat Below 1.2858
The GBPUSD currency pair continues to trade flat, with prices trading below the price level of 1.2858. We could expect a modest retracement to this level where resistance is likely to form.
The stochastics oscillator is pointing to the upside and could signal a breakout.
