The GBP/USD pair continues consolidating in a tight range above the 1.5400 figure, but below the weekly high set last Monday at 1.5446. The release of the UK final services PMI resulted better than previously estimated in October, printing 54.9 against 53.3. The Pound enjoyed some limited demand afterwards, and trades near the mentioned high, but showing no upward momentum ahead of the BOE’s Super Thursday. The pound has remained apathetic after the UK’s Services PMI has surpassed expectations for the month of October, climbing to 54.9 vs. 54.5 initially forecasted and September’s 53.3.Spot is extending its overnight consolidative pattern in the low-1.5400s today, although gains seems to be so far limited around 1.5430/35, ahead of the BoE’s ‘Super Tuesday’.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5450 TARGET 1.5470 1.5500 SL1.5420
SELL GBP/USD BELOW 1.5310 TARGET 1.5280 1.5250 SL 1.5340
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