Important events today:

08:30 UTC: GBP – Services PMI Index.

12:15 UTC: USD – ISM Services Business Activity Index.

14:00 UTC: USD – ADP Employment Change.

On Tuesday, the GBP/USD pair lost its bullish momentum, settling just above 1.3500. The latest Bank of England (BoE) monetary policy hearings in the British Parliament failed to inspire traders, and market sentiment remains neutral as traders hope for an easing of trade tensions between the US and China.

Investors are still counting on a trade agreement between President Trump and China’s leader Xi Jinping, despite ongoing trade conflicts, as both sides accuse each other of violating the terms of the preliminary trade deal. Trump administration officials continue to insist that Trump and Xi will hold direct talks soon, but concrete details remain unknown.

The JOLTS job openings in April rose to 7.391 million, contradicting the forecast of a decline to 7.1 million. On the other hand, US factory orders in April dropped more than expected, falling by 3.7% compared to the previous month, marking the lowest level in 15 months. The previous month’s figure was also sharply revised downward from 4.3% to 3.4%.

The ISM Services Purchasing Managers Index (PMI) results will be published on Thursday, and investors are hoping for a slight improvement in business sentiment. The forecast for May is for the ISM Services PMI to rise to 52.0 from 51.6 in April.

Recommendations: BUY 1.3520, SL 1.3500, TP 1.3620.