* GBP/USD under pressure as risky assets drop * But inflows into UK gilts support euro/sterling * Stops below $1.5850 cited, UK services sector PMI awaited LONDON, Nov 3 (Reuters) - Sterling eased to a two-week low against the dollar on Thursday as stock markets came under pressure on mounting worries about a disorderly Greek debt default, concerns which saw the common currency lose ground against the British pound. UK services sector PMI is due at 0930 GMT and is forecast to drop to 52 in October from 52.9. A downside surprise could see sterling come under more pressure with traders citing decent sell-stops below $1.5850. On the other hand, traders said an upside surprise is unlikely to offer much support to the currency in a risk averse environment. Sterling was last down 0.1 percent at $1.5925 , having fallen to $1.5876 earlier in the session--its lowest in two weeks. Beyond support at its 55-day moving average of $1.5880, it is likely to receive some help around $1.5830--the 38.2 percent retracement of its climb from a low of $1.5270 in early October to it recent high of $1.6167 on Oct. 31. "Things are getting bearish for cable, but the only reason it is not falling off the cliff is because we are seeing inflows into UK gilts and that is supporting it against the euro," said Chris Walker, currency strategist at UBS. The euro was down 0.2 percent at 86.02 pence with Walker expecting it to test it September low of 85.31 pence in the near term. The single currency was under broad pressure with investors nervous about Greece's plan for a referendum on the euro zone debt deal. France and Germany said its next aid tranche to Greece would not be disbursed until after the referendum. Despite its gains against the single currency, analysts said prospects for the UK currency have soured with academic think tank the National Institute of Economic and Social Research lowering growth prospects. The think tank now sees a near 50 percent chance of a recession and that is likely to ramp up expectations of more quantitative easing from the Bank of England in coming months. "With equity markets also likely to come under further pressure, we expect sterling to be vulnerable today," Morgan Stanley said in a note. It was maintaining their short sterling positions and targeting the UK currency to drop to $1.5560. Thursday's European Central Bank meeting will be in focus with incoming bank President Mario Draghi under close scrutiny for any sign of dovishness on interest rates or a bias toward a more active role for the ECB in fighting the debt crisis. (Editing by Toby Chopra)

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