GBP/USD recovers from below 1.3100

GBP/USD has recovered from daily lows and trades into positive ground for the day as the greenback weakened slightly over the last hours.

After bottoming out at 1.3094, Cable managed to recover around half a cent and reached 1.3143 in recent dealings, as majors continue to consolidate in familiar ranges in the absence of fundamental triggers. At time of writing, GBP/USD is trading at 1.3140, up 0.23% on the day.

GBP/USD levels to consider

In terms of technical levels, next resistances line up at 1.3168 (20-day SMA), 1.3289 (Jul 22 high), 1.3315 (Jul 18 high) and 1.3480/82 (Jul 15 high/Jun 27 high). On the flip side, supports could be faced at 1.3064 (Jul 20 low), 1.2970 (Jul 12 low), 1.2849 (Jul 11 low) and 1.2796 (31-year low, Jul 6).