Initially, the Pound tried to restore some and even used a momentum provided by release of better than expected UK Services PMI to climb to the 1.3107 mark. However, the subsequent release of positive American data neutralized this attempt and returned the pair back to the monthly S1 at 1.3073.
Unless traders receive some clear signal the currency rate might continue moving in such indecisive manner for some while. Nevertheless, a pressure from the 100-day SMA on a daily chart is likely to push the pair down even further.
Although an attempt to surge to the 55-hour SMA is possible, but eventually it is still expected to slip to support area near the 1.3030 mark.
