GBP/USD consolidative around 1.2570

The British Pound is alternating gains with losses on Tuesday, taking GBP/USD to the 1.2560/70 band as markets slowly returns to normality after the Easter holidays.

GBP/USD gains capped near 1.2600

The pair lost upside momentum after hitting fresh 3-week tops near 1.2600 the figure at the beginning of the week, retracing part of the advance and now attempting to consolidate in the 1.2560/70 band.

The persistent offered bias around the greenback stays the main driver of the upside in spot since last week’s drop to the vicinity of 1.2360, although the buck seems to have found some respite following comments by US Treasury Secretary Mnuchin, who stressed that the Trump administration will prioritize economic growth, adding at the same time that a strong Dollar is a good sign.

Data wise, US Housing Starts and Building Permits are due seconded by Industrial Production and Capacity Utilization.

GBP/USD levels to consider

As of writing the pair is up 0.04% at 1.2571 and a breakout of 1.2599 (high Apr.17) would aim for 1.2618 (high Mar.27) and then 1.2624 (200-day sma). On the fllip side, the next support lines up at 1.2490 (20-day sma) followed by 1.2477 (low Apr.12) and finally 1.2430 (55-day sma).