The GBP/USD pair resumes upside near 1.2790 despite the rebound of US Dollar (USD).
GBP/USD holds positive ground around 1.2790 amid the firmer USD on Thursday. The ISM said on Wednesday that its US Services PMI rebounded to 53.8% in May from 49.4% in April. The UK S&P Global Services PMI reached a six-month low of 52.9 from 55.0 in April. The GBP/USD pair resumes upside near 1.2790 despite the rebound of US Dollar .
The Institute for Supply Management reported on Wednesday that the US Services PMI improved to 53.8 in May from 49.4 in April. This figure came in better than the estimation of 50.8. On the other hand, the UK services sector reported slower growth in May. The UK S&P Global Services PMI reached a six-month low of 52.9 from 55.0 in April, in line with the expectation. Meanwhile, the Composite PMI dropped to a two-month low of 53.0 in May from a one-year high of 54.1 in April.
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