GBP/USD looking for a break below 1.2500?

The GBP/USD pair is seen consolidating in a narrow range over the last hours, with the upside capped by the daily pivot (1.2521), while the bulls guard 1.2500 barrier.

The overnight rally in the cable lost steam in Asia opening trades, as worries over the Article 50 trigger resurfaced, with markets now looking forward to the UK PM  May’s ‘Best Deal’ to enable a smooth Brexit. Reports hit the wires late-Wednesday that the House of Common cleared May's Brexit Bill that allows the UK government to initiate formal talks to exit the EU. 

 Nothing of note for the major in terms of macro updates except for the US jobless claims and a couple of Fedspeaks due on the cards in the NA session.

GBP/USD Levels to consider            

At, 1.2511, the upside barriers are lined up at 1.2551 (Fib R1), 1.2572 (Dec 15 low) and 1.2600 (round figure). While supports are aligned at 1.2472 (previous low) and 1.2450 (psychological levels) and below that at 1.2406 (100-DMA).