GBP/USD Pulls Back Below 1.3960 After the US ISM Services PMIs

The GBP/USD currency pair on Wednesday extended Tuesday’s gains to retest the current monthly highs of 1.4007. It later pulled back to settle below the 1.3960 level following the release of the latest US ISM Services PMIs. The currency pair continues to trade within a sharply descending channel formation in the 60-min chart. It is now pinned next to the 100-hour SMA while the 200-hour SMA is a few levels below. The pair has pulled back to trade below the 38.20% fib level from February highs. GBP/USD Fundamentals Overview From a fundamental perspective, the GBP/USD currency pair is trading at the back of a … (full story)

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