GBP/USD turns positive for the day

GBP/USD managed to recover from fresh 2-week lows and climbed into the green during the New York session as the US dollar weakened broadly.

GBP/USD rose nearly a full cent over the last hours, after bottoming out at 1.3137 at the beginning of the session, weighed down by mixed UK employment figures on the top of yesterday’s disappointing inflation figures. Cable bounced  to peak at 1.3230 in recent dealings, and continues to trade nearby, recording a 0.26% gain on the day.

Investors attention now turns to the Bank of England monetary policy decision on Thursday, after introducing further easing measures last month. 

GBP/USD technical levels

As for technical levels, immediate supports are seen at 1.3137 (50-day SMA), 1.3126 (Sep 1 low) and 1.3078 (Aug 30 low). On the other hand, resistances could be found at 1.3295 (10-day SMA),  1.3346 (Sep 12 high), 1.3374 (Sep 8 high) and 1.3400 (psychological level).