GBP/USD sits near two-week tops, around mid-1.3400s

   •  Persistent USD weakness supportive of the bullish move.
   •  Rebounding US bond yields capping additional gains.
   •  Traders now eye second-tier US data for fresh impetus. 

The GBP/USD pair built on previous session's bullish breakout and is currently placed a near two-week high level, around the 1.3455-60 region.

Persistent greenback selling bias, with the key US Dollar Index tumbling to 3-month lows, remained supportive of the pair's strong up-move for the third consecutive session on Thursday. However, a goodish rebound in the US Treasury bond yields helped ease some of the USD bearish pressure and was now seen keeping a lid on additional gains, at least for the time being.

Meanwhile, today's release of the UK Finance mortgage approvals data, coming in at £39.51K for November as against previous month's revised £40.42K, went largely unnoticed and did little to influence the pair's momentum.

With the USD price dynamics acting as an exclusive driver, traders now look forward to the second-tier US economic data for fresh impetus.

Today's US economic docket features the release of usual initial weekly jobless claims, along with goods trade balance data and Chicago PMI, which might provide some short-term trading opportunities amid pre-holiday thin liquidity conditions.

Technical levels to watch

A follow-through buying interest has the potential to continue lifting the pair towards 1.3475-80 supply zone en-route the key 1.35 psychological mark. On the flip side, any retracement below 1.3430-25 area now seems to find fresh buying interest near the 1.3400 handle, which if exhausted could drag the pair back towards the 1.3330 support level.