GBP/USD unchanged near 1.2470, UK data on sight

The Sterling is trading almost unchanged vs. the greenback at the end of the week, taking GBP/USD to the area of 1.2470 ahead of UK data releases.

GBP/USD looks to data

The pair is extending its sideline theme on Friday, gravitating between 1.2400 and 1.2500 amidst a generalized absence of relevant events and usual scarce volatility.

Looking ahead, GBP will keep an eye on UK’s Industrial and Manufacturing Production due later in the session, although a broader cautious trade is expected to prevail ahead of the critical US Non-farm Payrolls (180K).

In the meantime, Cable stays to the mercy of USD-dynamics while headlines from Brexit negotiations are expected to kick in in the next weeks and should stay a permanent source of volatility for the pair.

GBP/USD levels to consider

As of writing the pair is up 0.01% at 1.2470 facing the next hurdle at 1.2556 (high Apr.3) followed by 1.2598 (high Mar.28) and finally 1.2562 (high Mar.31). On the other hand, a breakdown of 1.2427 (20-day sma) would expose 1.2375 (low Mar.29) and then 1.2362 (50% Fibo of the March up move).