GBP/USD keeps 1.3200 on PMI

The Sterling remains on a firm footing during the first half of the week, now sending GBP/USD to levels above the 1.3200 handle.

GBP/USD bid after PMI

After clinching daily highs near 1.3240, the pair has given away some pips and is now returning to the 1.3220/15 band after UK’s Construction PMI has surprised markets to the upside during July, coming in at 45.9 vs. 43.8 forecasted.

In the meantime, the selling bias persists around the greenback, allowing the ongoing rebound in the risk-associated space ahead of US PCE and Personal Income/Spending due later in the NA session.

GBP/USD levels to consider

As of writing the pair is gaining 0.30% at 1.3216 and a break above 1.3321 (23.6% Fibo of 1.5020-1.2796) would expose 1.3481 (high Jul.15) and finally 1.3535 (high Jun.29). On the other hand, the immediate support aligns at 1.3159 (20-day sma) followed by 1.3061 (low Jul.20) and then 1.2849 (low Jul.11).