GBP/USD once again meets with some fresh supply near the 1.2845-50 region. Bulls seemed unimpressed by a subdued USD price action, UK Services PMI. Investors now look forward to important US macro data for a fresh impetus. The GBP/USD pair edged lower through the early European session and held near session lows, around the 1.2785-80 region post-UK macro data. The pair failed to capitalize on the previous day’s late positive move and once again met with some fresh supply near the 1.2845-50 region. The downtick was sponsored by growing market concerns about the future UK-EU trade relationship and seemed rather unaffected by a subdued US dollar price action. Bulls remain on the sidelines The recent slump in the US Treasury bond yields accelerated further following the Fed’s surprise move on Tuesday to cut interest rates by 50 bps. In fact, the yield on the benchmark 10-year US government bond dropped below the 1% and kept a lid on the early attempted USD recovery move. The GBP bulls, however, seemed rather unimpressed from the lack of any sustained USD buying, rather took cues from a slight disappointment from the final UK Services PMI, which was revised lower 53.2 for February from the initial estimate of 53.3 and anticipated. It will now be interesting to see if the pair continues with its intraday downslide or continues to attract some dip-buying below mid-1.2700s. Market participants now look forward to the US economic data – the ADP report and ISM Non-Manufacturing PMI – for some meaningful trading impetus. Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Futures: Door open for extra gains FX Street 3 years GBP/USD once again meets with some fresh supply near the 1.2845-50 region. Bulls seemed unimpressed by a subdued USD price action, UK Services PMI. Investors now look forward to important US macro data for a fresh impetus. The GBP/USD pair edged lower through the early European session and held near session lows, around the 1.2785-80 region post-UK macro data. The pair failed to capitalize on the previous day's late positive move and once again met with some fresh supply near the 1.2845-50 region. The downtick was sponsored by growing market concerns about the future UK-EU trade relationship and seemed rather… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.