• GBP/USD edged up slightly, with momentum limited as investor were cautious ahead of major U.S. economic indicators.
• Market participants are awaiting the ADP private employment report and the ISM Services PMI, both due later in the day, which are expected to offer fresh cues on the strength of the U.S. economy and the Federal Reserve’s interest rate outlook.
• Britain’s services sector showed modest growth last month, rebounding from April’s contraction caused by concerns over U.S. tariffs, a survey revealed on Wednesday. h.
• The S&P Global Purchasing Managers' Index for Britain’s services sector increased to 50.9 in May from 49.0 in April, surpassing the earlier flash estimate of 50.2.
• Immediate resistance is located at 1.3605(23.6%fib), any close above will push the pair towards 1.3681( Higher BB)
• Strong support is seen at 1.3447(June 4th low) and break below could take the pair towards 1.3382(38.2% fib).
Recommendation: Good to buy around 1.3510 with stop loss of 1.3430 and target price of 1.3600.
