GBP/USD trims tepid recovery gains in pre-NFP repositioning trade

The GBP/USD pair surrendered majority of the early tepid recovery gains to the 1.3165 region and is now holding closer to the lower end of the daily trading range. 

In absence of any fresh development, the pair's latest leg of slide over the past hour or so could be solely attributed to some repositioning trade ahead of the key event risk. The same is evident from a modest US Dollar recovery from closer to 15-month lows.

Against the backdrop of Thursday's perceived dovish BoE decision, a stronger US data would pave way for extension of the pair's sharp reversal move from fresh yearly tops. 

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Hence, traders seemed inclined to protect their positions from any unexpected positive surprise from the keenly watched NFP report that could potentially trigger a strong US Dollar short squeeze. 

Technical levels to watch

Weakness below session lows support near 1.3130 area could get extended towards the 1.3100 handle, which if broken would turn the pair vulnerable to accelerate the slide towards 1.3060-55 intermediate support en-route the key 1.30 psychological mark.

On the flip side, sustained momentum beyond 1.3160-65 zone (session tops) could assist the pair to reclaim the 1.3200 and head towards its next resistance near the 1.3225-30 region.