GBP/USD clings to gains above 1.2500

The Sterling is following north the rest of the riskier assets on Monday, lifting GBP/USD to daily highs around 1.2530 during early trade.

GBP/USD focus on Brexit, BoE

The pair is clinching its fourth consecutive session with gains, managing to gather further traction after last week’s troughs near 1.2300 the figure, backed by a resilient sentiment around GBP despite the stronger greenback as of late.

In fact, GBP found extra support after US president-elect D.Trump advocated for stronger link trades between the two countries in the wake of his win in early November, while the debate between a ‘soft’ and a ‘hard’ Brexit seems to have fizzled out somewhat in recent days, particularly after the UK High Court ruled against the Government regarding Article 50.

Looking ahead, the BoE’s Financial Stability Report (Wednesday) and November’s Manufacturing PMI (Thursday) will be the salient points among other releases in the UK calendar this week.

GBP/USD levels to consider

As of writing the pair is gaining 0.30% at 1.2513 facing the next hurdle at 1.2532 (high Nov.28) followed by 1.2543 (55-day sma) and then 1.2675 (high Nov.11). On the other hand, a breakdown of 1.2308 (low Nov.21) would open the door to 1.2297 (low Nov.18) and finally 1.2081 (low Oct.25).