GBP/USD consolidating near 1.4160 ahead of US data

• Cable keeps the recent range in the 1.4150/60 band.
• Initial optimism on UK/Irish Border issue fizzled out.
• The pair found support at weekly lows around 1.4070 on Tuesday.

The Sterling has faded the initial spike to the boundaries of 1.4200 the figure vs. the greenback, prompting GBP/USD to the current 1.4160 region.

GBP/USD looks to Brexit headlines, month-end flows

Cable has quickly climbed to fresh daily highs in the 1.4200 neighbourhood during early trade, although the bullish attempt failed to advance further north of that key hurdle, all following optimistic headlined from the UK-Irish border issue.

Other than headlines surrounding Brexit, month-end flows are also collaborating with the pair’s price action this week, all amidst a better sentiment around the buck and the risk-associated space.

In the UK docket, CBI’s Distributive Trades Survey dropped to -8 for the month of March, missing initial estimates. In the US calendar, the salient event will be Q4 GDP figures, seconded by Trade Balance figures during last month.

GBP/USD levels to consider

As of writing, the pair is losing 0.02% at 1.4155 and a break below 1.4081 (10-day sma) would aim for 1.4067 (low Mar.27) and then 1.3886 (low Mar.16). On the upside, the next resistance lines up at 1.4246 (high Mar.26/27) seconded by 1.4280 (high Feb.2) and finally 1.4345 (2018 high Jan.25).