Technicals on major support point to a rise in the GBP for now. We bought the market with SL at 1.2980and TP at 1.3140 as the USD seems subdued today and confidence in the Pound keeps rising in the aftermath of Brexit.
What is more, the GBP gained some positive traction in the last hour and lifted the GBP/USD pair after the final UK Services PMI was revised higher to 53.9 and remained supportive. Meanwhile, fears of a fallout in the trade negotiations between the EU and the UK could keep a lid on gains.
