GBP/USD struggles to advance further, near 1.3140

The Sterling is clinging to its earlier gains vs. the greenback on Thursday, now sending GBP/USD back to the 1.3140 area.

GBP/USD looks to PMI, ISM

The pair is adding to Wednesday’s gains so far today, although the upside momentum seems to have run out of steam in the vicinity of 1.3160 for the time being.

GBP will remain under vigilance ahead in the session, as August’s manufacturing PMI is expected to have ticked higher to 49.0 vs. July’s 48.2. In addition, the key ISM Manufacturing will bring in some volatility on the USD-side.

GBP/USD levels to consider

As of writing the pair is gaining 0.05% at 1.3146 and a breakout of 1.3191 (resistance trend line off July’s high) would open the door to 1.3281 (high Aug.23) and then 1.3321 (23.6% of the post-Brexit down move). On the other hand, the immediate support lines up at 1.3000 (psychological level) followed by 1.2863 (low Aug.15) and finally 1.2849 (low Jul.11).