GBP/USD muted around 1.3280 after UK PMI, focus remains on NFP

The British Pound failed to attract fresh buying interest with the GBP/USD pair retracing few pips from session high to currently trade with only marginal gains around 1.3280-85 band.

On economic data front, UK construction PMI for August came-in at 49.2, which was better-than 46.1 expected and 45.9 recorded in July. The major had a muted reaction to the release as investors remained cautious ahead of the major event risk, US monthly jobs report later during NA trading session. 

Today's NFP data is likely to have a much bigger impact on the major as it would help investors to determine the Federal Reserve's near-term monetary policy stance, which would eventually determine the near-term direction for the greenback. 

Technical levels to watch

On the upside, 1.3300 handle remains immediate resistance above which a fresh bout of short-covering could lift the pair immediately towards 1.3330-35 resistance. A follow through buying interest above 1.3330-35 resistance has the potential to lift the pair towards August monthly high resistance near 1.3370 level. 

Meanwhile on the downside, weakness below 1.3235-30 area now seems to find support near 50-day SMA resistance break, turned strong support near 1.3140 region with 1.3200 round figure mark acting as intermediate support.