GBP/USD clinches fresh tops near 1.4060 ahead of UK jobs

The Sterling remains well bid this week and is now lifting GBP/USD to fresh daily highs in the vicinity of 1.4050.

GBP/USD up on USD weakness

Cable is advancing for the third session in a row on Wednesday, navigating levels last seen in June 2016 in the mid-1.4000s and always against the backdrop of a renewed and strong bearish sentiment surrounding the buck.

In fact, recent trade-related news involving President Trump’s tariffs on washing machines and solar panels seems to have accentuated the selling bias around the US Dollar, prompting the US Dollar Index (DXY) to test fresh multi-year lows in sub-90.00 levels.

Today’s UK calendar highlights the labour market figures for the month of December, where the unemployment rate is expected to remain at 4.3%.

GBP/USD levels to consider

As of writing, the pair is gaining 0.34% at 1.4051 facing the next up barrier at 1.4062 (high Jan.24) followed by 1.4770 (high May 3 2016) and finally 1.5020 (post-Brexit vote high Jun.24 2016). On the other hand, a breach of 1.3848 (10-day sma) would aim for 1.3675 (21-day sma) and then 1.3457 (2018 low Jan.11).