UK Markit/CIPS services PMI came in at the lowest levels since April 2013, dropped to 53.3 in Sept, from 55.6 in the previous month.
- Cable slumped to hit session lows at 1.5173 on the UK services data, but recovered thereafter to 1.5214 levels
- Post-UK PMI recoveries were capped below 1.5215, and the pair has again slipped below the 1.52 handle
- GBP/USD is currently trading at 1.5191, with immediate support at 1.5173 (Today's Low) and resistance at 1.5214 (Session High Oct 5th)
- Higher oil prices and rallies in UK's stocks (FTSE up nearly 2.15% to 6,262 points) led by Glencore are likely to keep the pair supported
- Markets now await a slew of US macro releases due later in the U.S. session for further direction in the cable
