GBP/USD firmer above 1.3200 ahead of data

The now softer tone in the greenback is allowing GBP/USD to advance above the 1.3200 handle on Thursday.

GBP/USD focus on data

The pair is posting moderate gains and advancing for the second session in a row, as the USD rally seems to be taking a breather today. In the meantime, spot keeps navigating within the broader 1.30-1.33 range this week, looking to clinch its second consecutive week with gains.

Ahead in the session, UK Retail Sales and Public Sector finances are due. Market consensus expects sales to have contracted 0.6% on a monthly basis during June. Across the pond, US Initial Claims, the Philly Fed Manufacturing index and Existing Home Sales will be in the limelight.

GBP/USD levels to consider

As of writing the pair is advancing 0.12% at 1.3221 and a break above 1.3481 (high Jul.15) would aim for 1.3535 (high Jun.29) and finally 1.3646 (38.2% Fibo of 1.5020-1.2796). On the flip side, the next support aligns at 1.3065 (low Jul.20) followed by 1.2849 (low Jul.11) and then 1.2797 (20916 low Jul.6).