GBP/USD staged a solid rebound from the 1.3800 mark

The GBP/USD pair built on its steady intraday ascent through the mid-European session and climbed to fresh daily tops, around the 1.3875-80 region in the last hour. The US dollar struggled to preserve its modest intraday gains, instead met with some fresh supply at higher levels amid expectations that the Fed will keep interest rates low for a longer period. Apart from this, a strong rally in the US equity futures further undermined the safe-haven greenback.

This, in turn, was seen as a key factor that assisted the GBP/USD pair to find decent support and stage a goodish rebound from two-week lows, around the 1.3800 mark touched earlier this Monday. That said, the risk posed by the Scottish elections might cap any further gains for the GBP/USD pair. From a technical perspective, any subsequent positive move is likely to confront stiff resistance near the 1.3900 round-figure mark.