GBP/USD rebounds from 1.3350, US data eyed

The British pound has managed to bounce off the mid-1.3300s today, with GBP/USD now testing the 1.3380/85 band ahead of US data.

GBP/USD firm ahead of US CPI

Spot is trading on a firmer note at the end of the week, rebounding sharply from the area of Monday’s lows near 1.2850 and navigating fresh 2-week tops at the same time.

After a brief knee-jerk to 1.3350 on dovish comments by BoE’s A.Haldane, the pair seems to have resumed the prevailing upside ahead of key US CPI figures, Retail Sales and Consumer Sentiment.

GBP/USD levels to consider

As of writing the pair is gaining 0.20% at 1.3382 facing the next resistance at 1.3481 (session high Jul.15) followed by 1.3535 (high Jun.29) and finally 1.3646 (38.2% Fibo of 1.5020-1.2796). On the flip side, a breakdown of 1.3101 (low Jul.14) would expose 1.2849 (low Jul.11) and then 1.2797 (20916 low Jul.6).