GBP/USD retreats from highs, keeps 1.3200

The Sterling is retreating marginally vs. the greenback during the second half of the week, taking GBP/USD to the 1.3220 area for the time being.

GBP/USD supported near 1.3200

In spite of the undergoing small retracement, the pair remains on its way to close the second consecutive week with gains, looking to consolidate the recent breakout of the critical barrier at 1.3200 the figure sustained almost exclusively by the slump in EUR/GBP in recent sessions.

Nothing worth relevant in the UK docket until tomorrow’s Q2 GDP figures, while the attention will shift to the US calendar and the speech by Chair Yellen at the Jackson Hole Symposium on Friday.

GBP/USD levels to consider

As of writing the pair is retreating 0.05% at 1.3225 facing the next support at 1.3110 (20-day sma) followed by 1.2863 (low Aug.15) and finally 1.2849 (low Jul.11). On the other hand, a break above 1.3321 (23.6% of the post-Brexit down move) would aim for 1.3373 (high Aug.3) and then 1.3481 (high Jul.15).