GBP/USD rises to a high of 1.3176 on the day
There isn't any Brexit-related headlines to have caused the move higher here but the pound is steadying itself ahead of the UK labour market report that is to be released later at 0830 GMT. Cable now moves towards a test of the 100-hour MA (red line) where the upside move yesterday stalled.
Theresa May's speech in parliament helped put a bit of a bid in the pound in overnight trading but once again failed to offer any significant details of note for Brexit negotiations ahead of the EU Summit tomorrow.
Although we'll get wages data later, it's still all about Brexit for the pound in trading this week. Right now, as long as price holds below the 100-hour MA then near-term price bias remains undefined. But move above, and the near-term bias turns more bullish.
Ahead of the data release later, I wouldn't get too carried away on a strong/weak data reading (unless it's a wildly unexpected) as the focus will immediately turn towards discussions in Brussels tomorrow.