GBP/USD defends gains above 1.3200

The GBP/USD pair reversed a knee-jerk downward spike reached following the release of mixed UK jobs report and reverted to pre-data levels above 1.32 handle, as markets tracked fresh move lower in the greenback against its major competitors.

GBP/USD: 20-DMA back on sight?

Currently, GBP/USD gains +0.10% to trade at 1.3205, having stalled its post-jobs recovery near 1.3220 levels. The cable is seen trading quite choppy so far this session, as markets digest the latest no so impressive UK employment data.

Moreover, volatile trading activity seen behind the US dollar against most of its major counterparts, also adds to the wild swings in the major over the last hour. The USD index dropped as low as 95.43, before quickly recovering to now trade at 95.53 levels, almost unchanged on the day.

Markets now await the BOE policy decision due tomorrow for fresh direction on the pound, in absence of significant fundamental driver in NA session ahead.

GBP/USD Levels to consider                           

The pair has an immediate resistance at 1.3236/55 (20 & 5-DMA), above which 1.3295 (10-DMA) would be tested. On the flip side, support is seen at 1.3186 (session low) below that at 1.3160 (50-DMA).