GBP/USD sidelined below 1.3200, focus on ISM

The Sterling remains entrenched in the negative territory on Monday, now taking GBP/USD to the 1.3170 area ahead of the US docket.

GBP/USD offered post-PMI

The pair saw its downside accelerated after Markit’s manufacturing PMI has disappointed expectations during last month, coming in at 48.2 vs. 49.1 expected, adding to the daily bearish fashion and provoking the breakdown of the key support at 1.3200 the figure.

Ahead in the session, the greenback will take centre stage in light of the publication of the ISM Manufacturing, expected a tad lower in July to 53.0 from 53.2.

GBP/USD levels to consider

As of writing the pair is retreating 0.33% at 1.3185 facing the next support at 1.3149 (20-day sma) followed by 1.3061 (low Jul.20) and then 1.2849 (low Jul.11). On the flip side, a break above 1.3321 (23.6% Fibo of 1.5020-1.2796) would expose 1.3481 (high Jul.15) and finally 1.3535 (high Jun.29).