GBP/USD clings to gains near 1.3280

The Sterling keeps its positive note at the beginning of the week, now taking GBP/USD to the 1.3280/75 band.

GBP/USD looks to upcoming UK data

The pair has managed to post decent gains so far on Monday following a renewed selling bias around the US dollar after last Friday’s strong advance.

Ahead in the week, GBP will re-take centre stage in light of the publication of UK’s inflation figures (Tuesday), labour market report (Wednesday) and retail sales (Thursday).

In the meantime, market participants will closely follow today’s Fedspeak (D.Lockhart and N.Kashkari), with special attention to the speech by L.Brainard (the most dovish FOMC member) on ‘Economic Outlook’.

GBP/USD levels to consider

As of writing the pair is advancing 0.09% at 1.3280 and a breakout of 1.3447 (high Sep.6) would aim for1.3481 (high Jul.15) and then 1.3646 (38.2% of the post-Brexit down move). On the flip side, the next support aligns at 1.3213 (20-day sma) followed by 1.3152 (support line off July’s top) and finally 1.3121 (low Aug.30).