- The dollar weakens modestly with the opening of the American session.
- The DXY remains in the zone of highs in months.
- Encouraging data from the US labor market.
The GBP / USD bounced from 1.3618 and rose to the 1.3655 zone, where it encountered resistance. It is trading at 1.3640, in anticipation of the formal opening of Wall Street. The dollar lost moment, but the DXY remains firm above 91.00.
The dollar cut gains in the last hours against the main currencies favoring the rise of the GBP / USD, which in any case still looks with a bearish and vulnerable bias. Should a break below 1.3600 occur, a bearish extension would be expected. In the opposite direction, if it rises above 1.3700, the downward pressure will ease.
Regarding data, it was known that in the United Kingdom, the final reading of the services PMI was better than expected when it was revised up to 39.5, against the previous and expected reading of 38.8. On Thursday the decision of the Bank of England will be known.
In the US, the ADP private employment report was released, which showed figures well above expectations for January and also a positive revision to those of December. This may bode well for the official market report to be released on Friday. Figures on the performance of the service sector for January will be released later on Wednesday.
Technical levels
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