The purchasing managers’ index for the services sector came out within expectations – 53 points. This helped cable move forward, but it’s still struggling with the mighty 1.5650 line, that capped it throughout the week.
The British pound has been enjoying the improvement in Europe – the hopes of a real resolution to the debt crisis also helps Britain. Britain is heavily exposed to Ireland and also to other European countries.
A convincing break above 1.5650 will send the pair towards minor resistance at 15720. Support is found at 1.5470. For more levels and technical analysis, see the GBP USD forecast.