• GBP/USD continues to head south for the 7th day, making lower daily highs since the 1.5820 peak
  
  
• Traders largely ignoring oversold levels, Stochs point to further downside in the pair, with strong trendline support at 1.5240 
  
  
• UK services PMI report due later in the day in focus, expectations to show the activity ticked up slightly to 57.6 in August from July's 57.4
  
  
• GBP/USD is currently trading at 1.5277, down from day's highs at 1.5313 with immediate support seen at 1.5264 (Daily Low Aug 2)
  
  
• On the other side, resistance is seen at 1.5313 (daily high) and then at 1.5333 (30 DMA Lower Bollinger)
  
  

Resistance Levels:

R1: 1.5313 (daily high) 

R2: 1.5333 (30 DMA Lower Bollinger)

R3: 1.5363 (200 DMA)

Support Levels:

S1: 1.5264 (Daily Low Aug 2)

S2: 1.5257 (Daily Low Jun 9)

S3: 1.5222 (Daily Low Jun 8)