“¢ UK services PMI beat market expectations by a big margin and provides a minor lift. “¢ The prevalent USD buying interest seems more likely to keep a lid on any runaway rally. “¢ Carney’s testimony/ Barclay-Cox-Barnier meeting eyed for some meaningful impetus. The GBP/USD pair reversed an early dip to mid-1.3100s, or one-week lows, and refreshed session tops post-UK services PMI. The British Pound found some support at lower levels following the UK foreign secretary Jeremy Hunt’s comments, saying that the situation has improved in last month and signals from the EU are reasonably positive. The uptick got an additional boost in wake of an unexpected rebound in the UK services PMI, which managed to avoid falling into contraction territory and came in at 51.3 for February as compared to 50.1 previous and 49.9 expected. However, the prevalent US Dollar buying interest, supported by the recent upsurge in the US Treasury bond yields, turned out to be the only factor that might contribute towards keeping a lid on any strong follow-through. Moreover, traders also seemed reluctant to place aggressive bets ahead of a scheduled meeting between UK Brexit Secretary Barclay, Attorney General Cox and the European Union’s Chief Brexit negotiator Michel Barnier. This coupled with the BoE Governor Mark Carney’s testimony on Brexit, inflation, and the economy before the House of Lords Economic Affairs Committee will further influence the pair’s price action on Tuesday. In the meantime, the US economic docket, highlighting the release of ISM non-manufacturing PMI, might also be looked upon to grab some short-term trading opportunities during the early North-American session. Technical levels to watch GBP/USD Overview: Today Last Price: 1.3168 Today Daily change %: -0.06% Today Daily Open: 1.3176 Trends: Daily SMA20: 1.3026 Daily SMA50: 1.2936 Daily SMA100: 1.2882 Daily SMA200: 1.299 Levels: Previous Daily High: 1.3269 Previous Daily Low: 1.3166 Previous Weekly High: 1.3351 Previous Weekly Low: 1.3051 Previous Monthly High: 1.3351 Previous Monthly Low: 1.2773 Daily Fibonacci 38.2%: 1.3205 Daily Fibonacci 61.8%: 1.323 Daily Pivot Point S1: 1.3139 Daily Pivot Point S2: 1.3101 Daily Pivot Point S3: 1.3035 Daily Pivot Point R1: 1.3242 Daily Pivot Point R2: 1.3307 Daily Pivot Point R3: 1.3345 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 BofAML: EUR/USD is undervalued FX Street 4 years "¢ UK services PMI beat market expectations by a big margin and provides a minor lift. "¢ The prevalent USD buying interest seems more likely to keep a lid on any runaway rally. "¢ Carney's testimony/ Barclay-Cox-Barnier meeting eyed for some meaningful impetus. The GBP/USD pair reversed an early dip to mid-1.3100s, or one-week lows, and refreshed session tops post-UK services PMI. The British Pound found some support at lower levels following the UK foreign secretary Jeremy Hunt's comments, saying that the situation has improved in last month and signals from the EU are… 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.