GBP/USD on a steady recovery path above 1.3100

Having bottomed out just ahead of 1.31 handle, the GBP/USD pair is seen making minor-recovery attempts in Asia, now looking to regain 1.3150 levels.

GBP/USD keeps 1.3100 post-BOE

Currently, GBP/USD trades 0.19% higher at 1.3133, flirting with session highs reached at 1.3135. The cable is trying hard to extend the recovery from weekly lows, as dust settles over the BOE aftermath and focus shifts towards the US fundamentals.

The GBP/USD pair slumped 250-pips to fresh weekly lows at 1.3102, as the pound was battered after the BOE rolled out aggressive easing measures by slashing interest rate to 0.25% and expanding QE by GBP 70 billion. Moreover, softer outlook on the prices by the BOE also weighed heavily on the cable.

Looking ahead, traders now slowly turn their attention to the US employment data, with markets expecting 180k new job additions to the US labour market last month. Besides, the UK docket remains data-quiet for today.

GBP/USD Levels to consider                           

The pair has an immediate resistance at 1.3201/07 (20 & 10-DMA), above which 1.3271 (daily R1) would be tested. On the flip side, support is seen at 1.3102 (post-BOE low) below that at 1.3070 (July 27 low).