GBP/USD around 1.2940 post-UK jobs

The Sterling is trading on a firm note on Wednesday, now lifting GBP/USD to the 1.2935/40 band.

GBP/USD bid after UK data

The pair kept the buying interest intact today after UK’s jobs report showed the unemployment rate ticking lower to 4.6% in March, while Claimant Count Change rose more than initially estimated by 19.4K and Average Earnings inc. Bonus gained 2.4% and 2.1% exc. Bonus.

In the meantime, the pair has been posting daily gains since Friday, always against the backdrop of a much weaker greenback, exacerbated following the Trumo-FBI-Russia controversy.

Looking ahead, April’s Retail Sales in the UK are due tomorrow, while the EIA’s report on US crude oil stockpiles is expected later today in the NA session.

GBP/USD levels to consider

As of writing the pair is up 0.15% at 1.2936 and a surpass of 1.2957 (high May 16) would open the door to 1.2989 (high May 10) and finally 1.2992 (2017 high May 8). On the flip side, the immediate support aligns at 1.2842 (low May 12) followed by 1.2829 (low May 4) and then 1.2758 (low Apr.21).