GBP/USD sidelined around 1.3140, NFP on sight

The Sterling is trading almost unchanged vs. the greenback on Friday, taking GBP/USD to the 1.3140 area ahead of us non-farm payrolls.

GBP/USD weaker post-BoE

Cable dropped over a cent on Thursday following the dovish message from the Bank of England at its meeting. Recall that the MPC voted 6-2 in favour of keeping the current monetary conditions, disappointing market expectations, which were biased towards a 5-3 vote.

In addition, the BoE revised lower its forecasts for inflation and economic growth, intensifying the sell off in the British Pound and dragging the pair to the vicinity of 1.3110, where it seems to have found some buying interest once again.

Ahead in the day, USD-dynamics are expected to drive the sentiment amidst growing cautiousness in light of the release of US non-farm payrolls for the month of July (183K exp.).

GBP/USD levels to consider

As of writing the pair is up 0.01% at 1.3142 facing the immediate up barrier at 1.3266 (2017 high Aug.3) followed by 1.3351 (high Sep.12 2016) and finally 1.3447 (high Sep.6 2016). On the downside, a breach of 1.3130 (10-day sma) would open the door to 1.3106 (23.6% Fibo of 1.2587-1.3266) and finally 1.3044 (21-day sma).