GBP/USD regained positive traction on Monday

02 Aug 2021, 19:51 · Views 60

The GBP/USD pair edged higher during the European session and climbed to fresh daily tops, around the 1.3925-30 region in the last hour. A combination of factors assisted the GBP/USD pair to catch some fresh bids on the first day of a new trading week and recover a part of Friday's retracement slide from over one month tops. The British pound remained well supported by the declining trend in Delta variant infections in the UK.

In fact, Britain recorded reported 24,470 new cases of COVID-19 on Sunday. This comes on the back of the recent positive Brexit-related development, which further acted as a tailwind for the sterling. Apart from this, a subdued US dollar demand provided a modest lift to the GBP/USD pair.

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GBP/USD regained positive traction on Monday

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