GBP/USD slides back below 1.30 after US data

GBP/USD moved slightly lower as the greenback benefited, although only modestly, from the latest string of supportive US employment data.

US private-sector employment increased by 172,000, according to ADP data, beating expectations of 159,000. Separated data showed initial jobless claims unexpectedly fell to 254,000 last week.

GBP/USD slid back below 1.3000 and touched an hourly low of 1.2986 in recent dealings. It was last trading around 1.2995, still 0.52% above its opening price.

GBP/USD levels to watch

In terms of technical levels, immediate supports are seen  at 1.2860 (Jul 6 intraday level), 1.2797 (31-year low, Jul 6) and 1.2700 (psychological level). On the other hand, resistances line up at 1.3045 (Jul 7 high),  1.3119 (Jun 27 low) and 1.3243 (10-day SMA).