GBP/USD turns positive near 1.3060 on UK data

The British pound has recovered the positive ground today, now lifting GBP/USD to the 1.3060 region.

GBP/USD bid after UK jobs data

The pair met extra buying pressure after positive results from UK’s labour market saw the Claimant Count Change decreasing by 8.6K, while the ILO unemployment rate stayed put at 4.9% and Average Earnings inc/exc Bonus have matched initial forecasts.

Spot is now advancing for the second straight session, testing weekly highs in the 1.3060 area after plotting a bullish engulfing candle on Tuesday’s session.

Ahead in the day, FOMC minutes are due across the pond, with consensus tilted towards a continuation of the ‘wait-and-see’ tone from the Committee.

GBP/USD levels to consider

As of writing the pair is up 0.02% at 1.3049 and a breakout of 1.3109 (20-day sma) would open the door to 1.3373 (high Aug.3) and then 1.3481 (high Jul.15). On the downside, the immediate support aligns at 1.2863 (low Aug.15) followed by 1.2849 (low Jul.11) and finally 1.2796 (2016 low Jul.6).