GBP / USD revisits 1.3000 despite Easter Monday and Brexit pessimism

• The political uncertainty surrounding the United Kingdom seems less observed before the reopening of the British parliament on 23 April.
• US data will be used as the basis for determining the direction of trade in the near term, while the 200-day SMA will be an essential support to monitor.

The British pound (GBP) is approaching the mark near 1.3000 against the US dollar (USD) early Monday. GBP / USD has recently rebounded on the 200-day Simple Moving Average (SMA), despite negative Brexit stocks and Easter Monday holidays in most global markets.

Recently, the Sunday Times reported that the conservative upper house was preparing to say that British Prime Minister Theresa May was exactly the same, while the BBC claimed that the opposition Labor Party was pushing for another referendum. on the Brexit as a selling point for his European electoral speech. Both reports describe the pessimism of Brexit.

However, traders reacted positively to this news and caused the 200-day SMA pair to withdraw.

Various arguments can range from the initial reaction to Friday's US real estate market figures to speculation by traders in anticipation of the opening of the UK Parliament on April 23, which justifies this decision.

Then, the March figures from the Chicago Fed's National Activity Index to the US and existing home sales could entertain Cable traders on an otherwise boring day. The housing market indicator could show another negative figure while the index of activity was in negative territory at the time of the last publication.

GBP / USD Technical Analysis

Despite the rebound of the large SMA, the pair is expected to exceed 1.3050 and a descending trend line that stretches since March 13 to 1.3070 to be able to cope with the 50-day SMA level of 1.3100. If, at all prices, go back above 1.3100, the maximum of the current month, close to 1.3135, may blink on buyers' radar.

Alternatively, a 200-day SMA level of 1.2970 and a 100-day threshold close to 1.2955 may act as immediate rest for the pair, a break-up to recall the support of 1.2930, 1.2910 and 1, 2880 on the map.