GBP/USD halts 3-day slide, regains 1.2500

The cable experiences a minor-relief rally this Tuesday, after three consecutive sessions of losses, as fresh bids emerged for the spot near the hourly 200-SMA support located at 1.2478.

However, it remains to be seen if the GBP/USD pair can keep its corrective mode intact amid a broadly muted US dollar and tumbling Asian equities, while the US treasury yields attempt gains, following mixed US data releases seen a day before.

Markets now await the second-liner data in the form of net lending to individuals, followed by the US Chicago PMI and consumer confidence data due on the cards in NA session. While Trump headlines will continue to hog the limelight.

GBP/USD Levels to consider            

At 1.2573, the upside barriers are lined up at 1.2547 (5-DMA), 1.2600 (round figure) and 1.2643 (Jan 25 high). While supports are aligned at 1.2478 (1h 200-SMA) and 1.2430 (daily S1) and below that at 1.2396 (50-DMA).