The British pound is under pressure. Data on the UK services sector

The British pound slowed its recovery against the US dollar, amid a decline in business activity in the UK services sector.

• According to the published data, in January the index of business activity in the services sector was 53.0, against the previous value at the level of 54.2.
• It is worth noting that the service sector in the UK is the largest component of GDP, against which the signals of a slowdown in its development will put pressure on the British currency.

Technical analysis: The GBP/USD pair maintains a short-term uptrend. In the event of the instrument price reduction and consolidation below 1.4085, one should expect its further decrease to 1.4025, 1.3980. The main resistance levels are 1,4200, 1,4276.

Fig. GBP/USD. Current price – $ 1.4125

Alexander Sivtsov