Weaker UK wages and jobs data sent the pound lower only to bounce back
I said in my preview that we'd get a knee-jerk but little else and so it proved.
As with all data releases you have to put them in context of what else is going on and right now the focus isn't on the UK data or associated rate hike conjecture.
On another day with attention not on oil, equities and yen-pairs we may have seen more of a fall and we may yet see a delayed reaction with Brexit still high on the agenda to also undermine the pound.
For the moment though don't go chasing it around in these tight ranges but pick your levels to buy and sell. Keep an eye on GBPJPY, now back up to 156.65 and EURGBP which seems pinned in its own range of 0.7875-0.7925
