GBPUSD (1.3576): The British pound continued its decline although price action remains supported above the price level of 1.3530. The weaker services PMI data cast doubts on whether the BoE would be able to hike rates next week. This led to the GBPUSD posting declines. From a technical outlook, we expect to see the currency pair consolidating near the current levels of support. A rebound off this price level could signal a potential move to the upside. The breached trend line remains a key dynamic resistance level if there is a correction.
