GBP/USD unchanged around 1.2950, US data eyed

The Sterling is now alternating gains with losses on Friday, with GBP/USD hovering over the 1.2950/40 band.

GBP/USD attention to US retail sales

Spot is meandering a narrow range today in line with the generalized lack of clear direction in the global markets, with gains capped near 1.2980 and sellers still unable to break below 1.2940.

Ahead in the session, market consensus expects US headline Retail Sales tohave expanded 0.4% during July, while the flash Consumer Sentiment tracked by the Reuters/Michigan index is sees at 91/5 for the current month.

GBP/USD levels to consider

As of writing the pair is up 0.01% at 1.2957 and a breakout of 1.3142 (20-day sma) would aim for 1.3373 (high Aug.3) and finally 1.3481 (high Jul.15). On the other hand, the next support aligns at 1.2934 (low Aug.11) followed by 1.2849 (low Jul.11) and then 1.2796 (2016 low Jul.6).