The British has received a support

The British pound is trying to stabilize its position against the US dollar, after a significant weakening on the eve. Read more… . Some support for the pound is provided by positive data on business activity in the service sector of Great Britain. According to published data, the index of business activity in the services sector of the UK rose to 55.6, exceeding the previous value of 53.6. As the service sector is a key sector of the economy, the growth of this value indicates a fairly good state of the UK economy in the context of Brexit.

Technical analysis: The pair GBP/USD moves in a narrow range during Friday trading. The nearest resistance is in the area of ​​1.3070. In the event that the price of the instrument will be able to gain a foothold above the level of 1.3070, one should expect a price correction to the level of 1.3120-1.3140. Support levels are considered at: 1,3000; 1.2980.

Fig. Graph GBP/USD current price – 1.3060

Alexander Sivtsov