GBP/USD in session lows near 1.3180, UK jobs eyed

The Sterling stays weak so far this week and is now dragging GBP/USD to the area of daily lows in the 1.3180/75 band.

GBP/USD looks to data

Cable is retreating since Monday amidst renewed concerns over Brexit while the uncertainty surrounding the UK political arena is not helping either.

Inflation figures in line with forecasts for the month of November released on Tuesday sparked no significant reaction in GBP-traders and the unclear message from the BoE at the Treasury Committee Hearings failed to lift the Sterling despite a rate hike at the November meeting still appears on the cards.

Ahead in the session, key labour market results are next on tap in the UK docket. Across the pond, housing starts and building permits are also due seconded by the EIA’s report on crude oil inventories.

In addition, Dallas Fed R.Kaplan (voter, hawkish) and NY Fed W.Dudley (permanent voter, centrist) are due to speak.

GBP/USD levels to consider

As of writing the pair is retreating 0.08% at 1.3180 facing the next support at 1.3155 (low Oct.17) seconded by 1.3144 (55-day sma) and then 1.3121 (low Oct.12). On the flip side, a breakout of 1.3305 (21-day sma) would open the door to 1.3338 (high Oct.16) and finally 1.3545 (2014-2017 down trend).