GBP/USD holds near highs after US data

GBP/USD held up pretty steady near recent highs following the release of most supportive US data.

US jobless claims declined more than expected last week, while the Philly Fed manufacturing index rose in August. 

The dollar moved only slightly higher and dragged GBP/USD to a session low of 1.3131 in recent dealings. However, Cable continues to trade near a 2-week high of 1.3170, scored during the European session on the back of stronger-than-expected UK retail sales data.

GBP/USD technical levels

At time of writing, the pair is  trading at 1.3140, down 0.77% on the day, with next resistances lining up at 1.3170 (Aug 18 high), 1.3200 (psychological level) and 1.3271 (Aug 1 high). On the other hand, supports are seen at 1.3007 (10-day SMA), 1.2900 (psychological level), 1.2864 (Aug 15 low), 1.2849 (July 11 low), 1.2795 (31-year low, Jul 6).