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  • Sterling comes back from a long weekend to a quiet Tuesday with little on the docket.
  • May has been a disappointing month for the GBP/USD with little upside.

The GBP/USD is trading just above the 1.3300 level ahead of a Tuesday London session that sees the UK institutions back from a long weekend.

The London trading pool was thinned on Monday with banks shuttered for the SPring Bank Holiday, and Tuesday will bring GBP volumes back into the mix after a quiet start to the week.

Despite banks coming back online for the new week today, the GBP still sees a quiet schedule, with only the BRC Shop Price Index, slated for a late showing at 23:01 GMT, which last printed at -1%.  

GBP/USD levels to watch

As  FXStreet’s own Valeria Bednarik  highlighted recently regarding the pair’s technical stance: “the short-term picture for GBP/USD is bearish despite the holiday left it with no directional strength, given  that in the 4 hours chart, a modesty bearish 20 SMA, currently at 1.3340 keeps capping the upside, while technical indicators have turned modestly higher, but remain well below their daily highs and within negative levels.”

Support levels: 1.3280 1.3245 1.3210    

Resistance levels: 1.3340 1.3385 1.3410