GBP/USD Sees Slight Rebound Amid US Economic Data Release

The GBP/USD currency pair made a comeback on Thursday, rebounding from its session lows of about 1.3477 to trade at around 1.3514.

This move occurred despite the pair still trading below the 100-hour moving average line and continuing within a descending channel formation on the 60-minute chart.

The 14-hour RSI has been rising, indicating that there is still room for the currency pair to run before reaching overbought levels.

From a fundamental perspective, the US ISM Services PMI for August rose to 55.4, beating the forecasted reading of 54.3, while unit labour costs for Q2 missed expectations with a change of 1.2% instead of 1.3%.