GBP/USD off highs, back to 1.3130

The Sterling keeps trading into the positive territory today, following the rest of the risk-associated assets and lifting GBP/USD to fresh tops in the mid-1.3100s.

GBP/USD looks to UK data

Cable is advancing for the fourth consecutive session so far today, always with the softer tone around the US Dollar as the main driver of the price action throughout the week.

The pair clinched 5-week tops beyond the 1.3100 handle during the second half of the week, as the prospects for the greenback continue to deteriorate in response to increasing uncertainty in US politics and geopolitical tensions.

Ahead in the session, UK’s manufacturing and industrial production are due followed by the NIESR GDP Estimate, trade balance figures and construction output. Quite day in the US docket, as wholesale inventories and the speech by Philly Fed P.Harker (voter, hawkish) are only expected.

GBP/USD levels to consider

As of writing the pair is up 0.10% at 1.3124 and a break above 1.3150 (high Sep.8) would open the door to 1.3266 (2017 high Aug.3) and finally 1.3447 (high Sep.6 2016). On the flip side, the immediate support lines up at 1.2991 (10-day sma)