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.”