The British pound continues to press higher against the greenback, as the US dollar index comes under further selling pressure. The GBPUSD pair currently trades around the 1.3205 level, with further upside advancement likely while price holds above the 1.3194 level. Traders now look to the release of important UK PMI Services data, which comprises close to eighty per cent of the United Kingdom’s GDP.
The GBPUSD pair is intraday bullish while trading above the 1.3195 level, key resistance is found at the 1.3249 and 1.3300 levels.
If the GBPUSD pair trades below the 1.3194 level, further declines towards the 1.3144 and 1.3120 support levels remain possible.
