GBP/USD unchanged on weak PMI, around 1.3610

• Cable regains the 1.3600 handle and above today.
• UK’s Services PMI came in below expectations at 52.8.
• Next on tap will be US ISM Non-manufacturing and Trade Balance.

The Sterling keeps the upbeat mood today despite the disappointing result from UK’s Services PMI, pushing GBP/USD back above 1.3600 the figure.

GBP/USD now looks to US calendar

After testing fresh 4-month lows in the mid-1.3500s on Wednesday, the offered bias around the buck helped Cable to retake the key barrier at 1.3600 the figure and advance to today’s peaks in the 1.3630 region.

The pair keeps the positive note today despite the always-relevant UK’s Services PMI came in below initial forecasts at 52.8 for the month of April, adding to the recent poor results in the UK docket and further undermining the possibility of a rate hike by the Bank of England at the next meeting.

Looking ahead, the US docket will grab centre stage in light of the release of Trade Balance figures, Durable Goods Orders, Factory Orders, the usual weekly report on the labour market and the key ISM Non-manufacturing.

GBP/USD levels to consider

As of writing, the pair is up 0.26% at 1.3611 facing the next hurdle at 1.3658 (2017 high Sep.20) seconded by 1.3812 (10-day sma) and finally 1.4004 (21-day sma). On the other hand, a break below 1.3556 (low May 2) would open the door to 1.3539 (200-day sma) and finally 1.3457 (2018 low Jan.11).