GBP/USD edging lower ahead of UK jobs report at 7am GMT this morning

Yesterday the Pound did hold gains versus the dollar and the Euro. The EUR/GBP fall back towards the 0.8300 handle and later set a synthetic US close, at 0.8304. That move helped the GBP/USD to hold gains above 1.26 on the day and set a close at 1.2625. That came following a slightly earlier session high, at 1.2635. However, the Pound has backed off, against what has been a more general dollar rebound during the Asian session today. The GBP/USD has dropped back to set a low so far, at 1.2593. That modest relapse comes ahead of some important UK data due a little later this morning. At 7am GMT the UK will release its latest monthly jobs report. Whilst the markets are expecting wages to rise in December, they are also expecting the unemployment rate to increase too. So, if the Pound is to maintain the current positive momentum versus the Euro and the dollar, it will be important the unemployment rate does not eclipse any wage rise. There will be more to follow just after 7am GMT. The GBP/USD is currently trading at 1.2597