GBP/USD consolidative around 1.2930 ahead of PMI

The Sterling is exchanging gains with losses vs. the greenback on Tuesday, taking GBP/USD to a narrow range in the 1.2930 region.

GBP/USD attention to PMI

Cable is trading near yesterday’s close, still above 1.2900 the figure and looking to consolidate Monday’s pullback.

Increasing geopolitical jitters stemming from North Korea have given extra legs to EUR and boosted the upside in EUR/GBP, draining any buying interest off the British Pound despite the selling bias around the greenback.

In addition, lower-than-expected construction PMI print on Monday just added to Cable’s downside, leaving the attention to the publication of today’s more relevant services PMI for the month of August.

Across the pond, July’s factory orders are due along with speeches by FOMC’s L.Brainard (permanent voter, dovish), Dallas Fed R.Kaplan (voter, hawkish) and Minneapolis Fed N.Kashkari (voter, dovish).

GBP/USD levels to consider

As of writing the pair is losing 0.01% at 1.2928 and a break below 1.2900 (10-day sma) would aim for 1.2851 (low Aug.31) and finally 1.2771 (low Aug.4). On the other hand, the initial hurdle lines up at 1.2952 (55-day sma) followed by 1.2996 (high Sep.1) and then 1.3031 (high Aug.11).