The GBP/USD printed a session high above 1.30 a few minutes before press time. An above-forecast UK services PMI reading could yield stronger rally in the GBP. The bid tone around the GBP strengthened on Wednesday, pushing the GBP/USD to a session high of 1.3002. The currency pair defended the trendline sloping upwards from the Aug. 15 low and Sept. 5 low yesterday and was last seen trading at 1.2995, representing 0.10 percent gains on the day. The UK PMI, scheduled for release at 08:00 GMT, is expected to show that pace of the expansion in the service sector remained largely unchanged at 54.00 index points in September. The GBP/USD may rise towards the 50-day exponential moving average (EMA) of 1.3049 if the services PMI beats estimates by a big margin. Beyond PMI, the GBP/USD market will also take cues from headlines covering both Brexit and political tensions within the Eurozone. GBP/USD Technical Levels Resistance: 1.3029 (5-day EMA), 1.3049 (50-day EMA), 1.3116 (Oct. 1 high) Support: 1.2970 (Asian session low), 1.2950 (rising trendline support), 1.2897 (Sept. 10 low) Â 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 Forex Today: Italian headlines help break the bear’s hold FX Street 4 years The GBP/USD printed a session high above 1.30 a few minutes before press time. An above-forecast UK services PMI reading could yield stronger rally in the GBP. The bid tone around the GBP strengthened on Wednesday, pushing the GBP/USD to a session high of 1.3002. The currency pair defended the trendline sloping upwards from the Aug. 15 low and Sept. 5 low yesterday and was last seen trading at 1.2995, representing 0.10 percent gains on the day. The UK PMI, scheduled for release at 08:00 GMT, is expected to show that pace of the expansion in the service sector remained… 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.
