GBP/USD struggle with 1.3150 extends in early Europe

The GBP/USD pair extends its Asian consolidation box into early European trading, with the bulls fighting hard to extend gains above 1.3150 levels.

GBP/USD in search of fresh incentives

Currently, GBP/USD now gains +0.08% to trade around 1.3145 levels, holding above hourly 20-SMA support located at 1.3128. The cable consolidates the upside and now awaits fresh impetus for the next push higher, with the USD index keeping range around daily lows struck at 94.40, down -0.10% so far.

Moreover, absence of fresh fundamental triggers and cautious market environment, the higher-yielding currency GBP continues to remain pressured. Later today, the traders look forward to the UK industrial order expectations data, US home sales and manufacturing data for further momentum on the pair.

GBP/USD Levels to consider                           

The pair has an immediate resistance at 1.3157 (NY high), above which 1.3186 (2-week top) would be tested. On the flip side, support is seen at 1.3100 (round figure) below that at 1.3076 (20-DMA).