The Pound has managed to bounce in the wake of marginally positive November services PMI readings overnight. With the recent declines in the Pound putting the currency right on a fresh downside breakout point recently, we would suggest that US data needs to come in positive to keep the Pound from a near term bounce back above 1.5750. Solid support moves up to 1.5630 basis the December contract and traders should expect a noted reaction to US scheduled data in the coming hours of trade.
