GBPTHB Eyes Services PMI

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GBPTHB Eyes Services PMIBRITISH POUND / THAI BAHTFX_IDC:GBPTHBYES_GroupMarket Analysis: GBPTHB is expected to trade sideways today. Market participants are awaiting a speech by BOE Governor Andrew Bailey and the UK June Services PMI. A stronger-than-expected PMI reading nearing the 50 threshold would signal service sector recovery and act as a positive catalyst for the Pound. Technical Outlook: The technical picture points to a potential short-term rebound as the RSI holds above 50 (at 52) and the MACD shows signs of a bullish crossover. Sustaining a move above the 44.34 pivot level is required to bolster buyers and spark a rally toward the resistance target. Support Level : 44.22 – 44.18 Target : 44.45 – 44.48 Stop Loss : 44.17