Resumption of the UK parliament proceedings could overcome Brexit deadlock. An area between 1.2970-60 and 1.3050 might confine the pair’s near-term moves. The GBP/USD pair recovers to 1.2990 ahead of the London open on Tuesday. The pair has been positive recently as investors expect Brexit deadlock to end soon as the UK members of the parliaments (MPs) return to their desks after nearly fortnight-long Easter recess. However, speculations that a senior Tory member is likely to push the British PM towards a resignation before June is restricting the British Pound’s (GBP) upside off-late. Due to the pressure on her job the UK PM May is ready to restart the cross-party Brexit talks with the opposition Labour party after it stalled before Easter break on personal differences. News reports were also doing the rounds that some of the lawmakers are selling second Brexit referendum in search of luring votes ahead of the EU election. Other than Brexit headlines, the US housing market numbers and manufacturing index might also entertain the Cable traders during the rest of the day. The US new home sales (MoM) for March may slip to 0.650 million from 0.667 million whereas the monthly print of housing price index for February may soften to 0.3% from 0.6%. Also, the Richmond Fed manufacturing index could weaken from 10 prior. GBP/USD Technical Analysis Despite the recent bounce, 1.3000 and a seven-week-old descending trend-line at 1.3050 can challenge the Cable buyers ahead of making them confront 50-day SMA level of 1.3100. Alternatively, 1.2970-60 area including 200-day and 100-day simple moving averages (SMAs) is likely important support for the pair, a break of which can recall 1.2930, 1.2910 and 1.2880 back on the chart. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: 10-yr US-DE yield spread hits four-month high in EUR-negative manner FX Street 4 years Resumption of the UK parliament proceedings could overcome Brexit deadlock. An area between 1.2970-60 and 1.3050 might confine the pair's near-term moves. The GBP/USD pair recovers to 1.2990 ahead of the London open on Tuesday. The pair has been positive recently as investors expect Brexit deadlock to end soon as the UK members of the parliaments (MPs) return to their desks after nearly fortnight-long Easter recess. However, speculations that a senior Tory member is likely to push the British PM towards a resignation before June is restricting the British Pound's (GBP) upside off-late. Due to the pressure on her job… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.