GBP/USD around 1.3240 ahead of PMI

The Sterling is posting decent gains at the end of the Asian session on Monday, taking GBP/USD to the mid-1.3200s ahead of the final print of July’s PMI.

GBP/USD focus on PMI

The pair is extending Friday’s advance as market participants continue to digest the disappointing print from US Q2 GDP, briefly testing the 1.3270 area although deflating to current levels afterwards.

Ahead in the session, the final figures of the manufacturing PMI for the month of July are only due in the UK (49.1 exp.) ahead of the key ISM Manufacturing in the US economy.

GBP/USD levels to consider

As of writing the pair is gaining 0.11% at 1.3243 and 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). On the other hand, the immediate support aligns at 1.3149 (20-day sma) followed by 1.3061 (low Jul.20) and then 1.2849 (low Jul.11).