GBP/USD looks to regain bids above 1.2500

The GBP/USD pair is seen reversing a dip to daily lows struck at 1.2478, and now attempts gains above 1.25 handle amid a broadly subdued US dollar and treasury yields.

Renewed uncertainty over Trump’s policies has triggered a fresh wave of risk-aversion across Asia, after the US court hearing on Trump’s travel ban ended without any ruling, while latest reports of the US President targeting an executive order on the Dodd-Frank rule, further spooked the markets and dampened the sentiment around the greenback.   

However, the major remains on a cautious footing amid ongoing Brexit concerns, as focus remains on the outcome of the Article 50 bill that is set to remain for voting in the House of Commons through Wednesday. 

On the data-front, we have no major economic news from both the US and UK, while BOE member Cunliffe’s speech will take center-stage in mid-Europe.

GBP/USD Levels to consider            

The upside barriers are lined up at 1.2530 (10-DMA), 1.2546 (previous top) and 1.2600 (round figure). While supports are aligned at 1.2467 (daily pivot) and 1.2402 (100-DMA) and below that at 1.2387 (daily S1).