GBP/USD back above 1.2500, but for how long?
|The GBP/USD pair found support once again near 1.2475 region, and from there makes another attempt to survive above 1.25 handle amid mixed sentiment and a broadly higher US dollar.
The GBP bulls await fresh impetus in order break higher from the ongoing bullish consolidative phase, which markets believe could be the passage of the UK Brexit bill in the Lower House today that will pave the way for the UK PM May to trigger the Article 50 by March 9.
While lack-luster trading seen around the US treasury yields keeps the sentiment around the pound buoyed somewhat, as markets seek to take the yield advantage from the higher-yielding currency GBP.
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).
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