GBP/USD retreats from highs, back near 1.3120

After climbing as high as 1.3135 in early trade, GBP/USD is now shedding some pips and testing the 1.3120 area.

GBP/USD supported at 1.3100

The pair has given away more than three cents following the dovish announcements from the Bank of England at its meeting on Thursday, coming down from session highs in the mid-1.3300s although finding decent support in the 1.3000 neighbourhood.

The softer note around the greenback is sustaining today’s gains for the time being, ahead of the release of UK’s house prices tracked by Halifax and US Non-farm Payrolls (170K).

GBP/USD levels to consider

As of writing the pair is advancing 0.14% at 1.3126 and a break below 1.3099 (low Aug.4) would expose 1.2849 (low Jul.11) and finally 1.2796 (2016 low Jul.6). On the flip side, the next up barrier lines up at 1.3373 (high Aug.3) followed by 1.3481 (high Jul.15) and finally 1.3535 (high Jun.29).