GBP/USD weaker, looks to regain 1.3100

After a brief test of daily lows in the vicinity of 1.3060, GBP/USD is now looking to retake 1.3100 ahead of key UK data.

GBP/USD attention to UK releases

Spot met extra downside pressure today following a bout of buying interest around the greenback after the opening bell in the Old Continent, dragging GBP to post fresh multi-day lows at 1.3065.

The Sterling will remain under pressure in the very near term, in light of the release of UK’s labour market figures. Market consensus expects the Claimant Count Change to have increased by 3.5K during last month, while the jobless rate is seen unchanged at 5.0% in May.

GBP/USD levels to consider

As of writing the pair is retreating 0.16% at 1.3091 facing the next support at 1.3065 (low Jul.20) followed by 1.2849 (low Jul.11) and then 1.2797 (20916 low Jul.6). On the other hand, a break above 1.3280 (20-day sma) would aim for 1.3481 (high Jul.15) and finally 1.3535 (high Jun.29).