GBPUSD is trading weak for second consecutive day after more dovish rate hike by BOE. The pair hits low of 1.2975 for the day and is currently trading around 1.30039.
UK services PMI came at 53.5 in July down from previous month 55.1 slightly less compared to forecast of 54.7. US economy is expected to add 190k new jobs in the month of Jul and wage growth to show a minor jump to 2.7% y/y.
On the lower side , near term support is around 1.3000 and any break below will drag the pair to next level till 1.2955/1.2900.
Any minor bullishness can be seen only above 1.3130 and any break above will take the pair to next level till 1.3180/1.3230.The minor resistance is around 1.3070/1.3100.
It is good to sell on rallies around 1.3055-60 with SL around 1.3110 for the TP of 1.2955.
Resistance
R1- 1.3070
R2 –1.3130
R3- 1.3200
Support
S1- 1.300
S2- 1.2950
S3- 1.2900
