GBP/USD weaker near 1.3220 ahead of PMI, BoE

The Sterling is now accelerating its downside vs. the greenback, with GBP/USD slipping to session lows in the 1.3220 region.

GBP/USD looks to PMI

Spot remains unable to gather traction so far, extending its consolidative scheme in the lower bound of the post-Brexit range near the 1.3200 handle amidst swelling risk-off sentiment.

Ahead in the day, GBP will be under pressure in light of the upcoming UK’s Services PMI for the month of June (52.7 exp.) followed by the BoE’s Financial Stability Report and the subsequent speech by Governor M.Carney.

GBP/USD levels to consider

As of writing the pair is losing 0.50% at 1.3220 and a breach of 1.3118 (2016 low Jun.27) would open the door to 1.3000 (psychological level). On the other hand, the initial up barrier is located at 1.3533 (high Jun.29) followed by 1.3833 (previous 2016 low Feb.29) and finally 1.4004 (low Apr.6).