Pound nudges a little higher after UK jobs data ...Middle East

The UK jobs data here was better than expected, even though it might come with some caveat. Traders are looking past that as the pound pushes higher with GBP/USD up from 1.2620 to 1.2640 levels currently.The pair had looked like it was setting out on a technical break to start February trading in a drop below 1.2600. The fall also took out its 200-day moving average (blue line) but it looks to be more of a false break for now.Price action has returned back to the previous consolidation range around 1.2600 to 1.2800. So, there is still a score to settle again. The next test? The US CPI data coming up later.Going back to the pound, I don't see this as being much of a game changer for the BOE.

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