GBP/USD keeps 1.3100 post-UK releases

The British Pound keeps the negative territory on Monday, with GBP/USD in the low-1.3100s in the wake of UK releases.

GBP/USD weaker on UK data

Cable keeps the trade within the daily range after mixed results from the UK docket. In fact, BoE’s consumer credit dropped to £1.458 billion in June, M4 money supply contracted more than expected 0.2% and mortgage approvals came in at 64.68K during last month.

On the positive side, mortgage lending rose £4.1 billion and net lending to individual surpassed initial estimates at £5.6 billion.

In the meantime, the pair stays on the defensive following the rest of the risk-associated space against a backdrop of a pick up in the demand for the US Dollar.

From the positioning side, GBP speculative net shorts climbed to 3-week tops in the week ended on July 25, according to the latest CFTC report.

GBP/USD levels to consider

As of writing the pair is losing 0.18% at 1.3112 and a break below 1.3054 (10-day sma) would open the door to 1.2999 (low Jul.26) and finally 1.2995 (21-day sma). On the flip side, the next hurdle lines up at 1.3157 (2017 high Jul.27) followed by 1.3351 (high Sep.12 2016) and finally 1.3447 (high Sep.6 2016).