GBP/USD bounces off 1.4100 ahead of jobs data

After briefly visiting the area of 1.4100 in early trade, GBP/USD is now attempting to re-test the 1.4140/50 band ahead of UK’s releases.

GBP/USD looks to UK data

It seems the Sterling has recovered the smile so far today, with GBP/USD now posting moderate gains as the risk aversion sentiment seems to have eased somewhat and yields in UK Gilts are extending the rebound from recent lows.

Ahead in the session, UK’s labour market figures are due, with consensus expecting the jobless rate to remain unchanged at 5.1% and the Claimant Count to decrease marginally in May.

GBP/USD levels to consider

As of writing the pair is advancing 0.21% at 1.4144 and a break below 1.4091 (low Jun.14) would aim for 1.4088 (low Apr.14) and then 1.4004 (low Apr.6). On the other hand, the next resistance aligns at 1.4352 (100-day sma) followed by 1.4410 (55-day sma) and finally 1.4472 (20-day sma).