GBP/USD returns to 1.3280 on UK jobs

The British Pound is now losing some of its initial shine, forcing GBP/USD to return to the 1.3285/80 band.

GBP/USD gives away gains on UK data

Cable met a bout of selling pressure after mixed results from the UK’s labour market report. The unemployment rate  ticked lower to 4.3% bettering estimates on the three months ended in July, while the claimant count change dropped by 2.8K.

On the not-so-bright side, both average earnings including/excluding bonus rose at an annualized 2.1% during July, missing prior surveys and weighing down on the sentiment around GBP.

GBP/USD levels to consider

As of writing the pair is up 0.02% at 1.3285 and a break above 1.3329 (2017 high Sep.13) would aim for 1.3447 (high Sep.6 2016) and then 1.3481 (high Jul.15). On the flip side, the immediate support lines up at 1.3266 (high Aug.3) seconded by 1.3159 (low Sep.11) and finally 1.3096 (10-day sma).