GBP/USD trying to gather some momentum ahead of the UK Services PMI

• Markit PMI Thursday for both the GBP and the USD.
• Thursday is getting markets wound up ahead of Friday's NFP to cap off a quiet week.

The GBP/USD is catching some lift ahead of Europe's Thursday market session, testing into the 1.36 major handle after bottoming out and touching 1.3555 in Wednesday's rough ride.

Next up for the Sterling will be the Markit Services PMI at 08:30 GMT, which is expected to lift from 51.7 to 53.5, though macro figures for the UK have been a disappointing affair as of late, and contributed in large part to the GBP's massive decline over recent weeks as the Bank of England (BoE) got pushed out of a planned May rate hike.

On the US side will be Jobless Claims (forecast 225 thousand, prev. 209 thousand) at 12:30 GMT, with the Markit Composite PMI at 13:45 GMT, expected to tick upwards to 55.2 from the previous reading of 54.8.

Will UK services PMI put a bid under the GBP/USD pair?

GBP/USD levels to watch

As FXStreet's own Omkar Godbole noted earlier, "the pair is mildy bid around 1.3594. A move above 1.3662 (5-day MA) could yield a rally to 1.37 (psychological hurdle) and 1.3712 (March 1 low). On the other hand, a break below 1.3570 (session low) would open up downside towards 1.3535 (200-day MA) and 1.35 (psychological level)."