The pound sterling is alternating gains with losses on Thursday, which led to the GBP/USD navigating a narrow range below 1.2800.
GBP/USD is focused on the Uk’s GDP and Jackson Hole
The cable is releasing their third setback in a row until now, trading on the area of a minimum of two months around 1.2800/1.2790 in the middle of a certain recovery in the dollar before the symposium in Jackson Hole.
The fears of Brexit renewed more a deterioration of the box around of the british pound have been weighing on the pair, which has already shed more than 3% from highs near 1.3270 registered in the month.
The GBP should remain under pressure today in the light of the publication of the figures advanced to the GDP of the United Kingdom during the period April-June. Prior surveys expect the economy to grow 0.3% quarter and a 1.7 per cent annually. Other data today include the mortgage endorsements, business investment and index of services.
Today, the Symposium at Jackson Hole will begin, with the main focus of attention in the speeches of Draghi’s, ECB’s, and Yellen, Fed.
GBP/USD levels to consider
When writing, the pair is losing 0.14% to 1,2781 and a break below 1,2747 (76,4% Fibonacci retracement of 1,2587-1,3266) would open the door to 1,2652 (SMA 200) and finally 1,2587 (21 June).
On the positive side, the next hurdle aligns at 1,2879 (SMA 10) followed by 1,2920 (up to 18 August) and then 1,2923 (SMA 55).