Despite Friday’s rebound, the GBP/USD remains under pressure near the 1-year low. Fisheries and drug rights have been the biggest hurdles in the Brexit negotiations between the UK and EU. The UK is experiencing a spike in Coronavirus warnings, with Prime Minister Johnson pushing to increase vaccine doses for over 30 years. Risk catalysts are as important as catalysts in the Fed and the Bank of England battle. The price analysis of the GBP/USD pair reveals a mixed sentiment while the bears have the upper hand despite the Friday gains. The GBP/USD exchange rate approaches 1.3250 and struggles to extend Friday’s rebound as markets prepare for a pivotal week. –Are you interested to learn more about Forex demo accounts? Check our detailed guide- In keeping with the other major currency pairs, the Cable supported a broad decline in the US dollar after the consumer price index (CPI) failed to hit the markets as expected. Even so, the US Consumer Price Index, which hit a new 39-year high in November, was in line with expectations at 6.8% y / y versus 6.2% a year ago. Furthermore, according to the University of Michigan Consumer Sentiment Index published in December, inflation expectations held steady at 70.4 in December, contributing to the GBP/USD’s rebound. Global stocks rose following the release of the US data, while US Treasury bond yields and the US Dollar Index (DXY) fell, helping GBP/USD retreat. Despite this, the inability to reach an agreement between the UK and the EU on delivering medicines across the Northern Ireland (NI) border has sparked doubt among buyers of the couple’s products. In addition, UK Express news reported that French fishermen plan multiple blockades in Calais and other major ports to ruin Christmas for millions of Britons. Get FREE Forex Signals Now! The increase in COVID-19 cases has also led the UK government to raise the warning level from 3 to 4. A total of 1,239 new Omicron cases were reported on Tuesday, raising the number to 3,137 for the day, the largest daily jump. Number of cases of a variant of the virus since it was discovered in the UK. Boris Johnson, Prime Minister of the United Kingdom, hopes to overcome the crisis and insists on additional vaccinations. Citizens over 30 have recently been advised to take booster doses of the Coronavirus vaccine. During the week of data collection, the monetary policy meetings between the Bank of England (BOE) and the Federal Reserve System (FRS) will be crucial. In addition, Brexit headlines and the COVID-19 updates will also be crucial. As a result of Omicron, Brexit concerns, and an old lady forced to make restrictive appearances, the GBP/USD prices are likely to remain under pressure. Inflation persists high, however, raising concerns over the wildcard. –Are you interested to learn more about CFD brokers? Check our detailed guide- GBP/USD price technical analysis: 50-SMA to resist rallies The GBP/USD price failed to sustain above the 50-period SMA on the 4-hour chart. The pair has retraced back to the 20-period SMA around the 1.3230 area. Bears will keep their dominance strong as long as the price remains below 1.3300. However, the downside may see some support at 1.3200 ahead of 1.3160. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next Free Forex Signals and Forecast: Buy USD/JPY – 13 Dec 2021 Olimpiu Tuns 9 months Despite Friday's rebound, the GBP/USD remains under pressure near the 1-year low. Fisheries and drug rights have been the biggest hurdles in the Brexit negotiations between the UK and EU. The UK is experiencing a spike in Coronavirus warnings, with Prime Minister Johnson pushing to increase vaccine doses for over 30 years. Risk catalysts are as important as catalysts in the Fed and the Bank of England battle. The price analysis of the GBP/USD pair reveals a mixed sentiment while the bears have the upper hand despite the Friday gains. 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