The British pound has moved higher against the U.S dollar, hitting 1.3285, after the United Kingdom’s Services PMI for the month of September beat market expectations, with a solid 53.6 reading.
Today’s intraday trading sentiment surrounding the GBPUSD pair remains mixed, with the pair still bearish below the 1.3360 level, however, price-action has recovered above the daily pivot point, at 1.3249.
Sterling is likely to advance towards its monthly pivot point at 1.3321, if price-action can break-above the key 1.3290 technical resistance area.
Traders will likely wait for key jobs data from the U.S and FED Chair Janet Yellen’s speech, before attempting to push price-action above the daily high.
Key intraday GBPUSD technical support is found at 1.3249 and 1.3220. Once below 1.3220, further weekly support is found at 1.3190 and 1.3149.
To the upside, key intraday technical resistance is found at 1.3290, 1.3321. Once above the 1.3321 level, further resistance is found at 1.3342 and 1.3361.
