FxWirePro: GBP/USD supported by UK services recovery and dollar weakness

• GBP/USD  firmed on Wednesday as  softer US economic data and cooling US-Iran tensions weighed on Greenback

•    ADP data showed private employment increased by 44,000 jobs in July after rising 95,000 in June suggested that job growth has slowed after surging in the spring.

•Meanwhile, Iran and Oman agreed on coordinates for a shipping route through the Strait of Hormuz, with a joint announcement pending, Iran's Foreign Ministry said.

•Meanwhile , Britain's dominant services sector returned to growth in July as new orders improved, with S&P Global's survey showing business confidence for the next 12 months rising to its highest level since before the Iran war began in February.

•The S&P Global UK Services PMI climbed to 52.1 in July from 48.8 in June, marking the first expansion since April and beating the preliminary estimate of 51.8.

• British annual wage growth held at 3.4% in the three months to May, in line with forecasts, while UK public borrowing fell to £16 billion in June.

•   Immediate resistance is located at 1.3536(38.2%fib), any close above will push the pair towards 1.3579Higher BB)

•  Strong support is seen at 1.3419(50%fib) and break below could take the pair towards 1.3405(SMA 20).

  Recommendation: Good to sell  around 1.3490, with stop loss of 1.3550 and target price of 1.3400