- GBP/USD is consolidating gains after five consecutive up days in the Asian session.
- A rebound in the US dollar from lower levels weighs on the pair.
- Brexit uncertainties and delayed supply of the COVID-19 vaccine in April act as limiting factors for the pair.
The GBP/USD pair maintains a cautious tone in Friday’s Asian session. The pair reverses earlier losses after making intraday lows near the 1.3750 area. As of writing, the pair is trading at 1.3766%, down 0.16% on the day.
The pair came under selling pressure following a rebound in the US dollar and the risk factor owing to the unresolved Brexit border issues along with a slower pace in the vaccination drive in April.
The EU and Britain have isolated 27 different issues concerning Northern Ireland’s contested post-Brexit trade agreements, Ireland’s minister said. In the meantime, the UK Brexit minister met his EU counterpart on Thursday, following the unrest in Northern Ireland. However, there was no clear mandate over the pending issue of custom checks on goods shipped to the region from mainland Britain. The ongoing tension in the region proves to be an expensive affair for the cable.
On the other hand, the US dollar maintained its steady move on the upbeat US Retail Sales data released on Thursday. As for now, investors await US Housing data, Building Permits and the preliminary Michigan Consumer Sentiment Index later in the day to grab a meaningful trading opportunity.
GBP/USD levels to consider
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