Following better than expected monthly PMI Services data from the United Kingdom economy, How does the GBPUSD pair trade at the moment? Gain insights on the 5 March GBPUSD Intraday Technical Forecast.
5 March, OctaFX – The British pound has started to move higher against the U.S dollar, following better than expected monthly PMI Services data from the United Kingdom economy. The GBPUSD pair has now recovered bullish trading momentum above the 1.3800 handle, after spending much of the morning testing the pivotal 1.3765 level.
Moving into Monday’s U.S session, sterling traders are likely to focus on key PMI data from the U.S economy and scheduled speech from Federal Reserve member Randal Quarles.
5 March GBPUSD Intraday Technical Forecast
- The GBPUSD pair remains intraday bullish whilst trading above the 1.3807 level, further upside towards 1.3858 and 1.3914 seems possible.
- A sustained move below the 1.3807 level may lead to renewed GBPUSD selling, with sellers again targeting the 1.3765 and 1.3711 levels.
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