FXStreet (Edinburgh) - The sterling is looking to consolidate yesterday’s drop from the mid-1.5400s, now taking GBP/USD to a sideline pattern around 1.5340.
GBP/USD eyes on UK data
Spot keeps meandering a tight range early in the European morning, just a tad higher than Tuesday’s multi-day lows near 1.5320, after failing to overcome the area of recent weekly peaks around 1.5450/60.
The pound will take centre stage later as well, in light of the UK’s labour market figures for the month of August. In fact, consensus sees the Claimant Count Change to have decreased by 5K while the jobless rate is expected to remain at 5.6%.
GBP/USD levels to watch
As of writing the pair is losing 0.03% at 1.5338 with the next support at 1.5299 (low Sep.8) ahead of 1.5171 (low Sep.7) and finally 1.5164 (low Sep.4). On the other hand, a breakout of 1.5473 (high Sep.14) would open the door to 1.5505 (high Aug.27) and then 1.5547 (high Aug.7).
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