The British pound has started to recover losses against the U.S dollar in Monday trading, with the GBPUSD pair hitting 1.3150 during the Asian session. The pair currently trades around the 1.3140 level, as the U.S dollar index continues to come under early selling pressure. GBPUSD traders will remain focused on the U.S dollar index and CORE PCE inflation data coming out from the United States on Monday.
The GBPUSD pair remains intraday bullish while trading above the key 1.3116 technical level. Further upside advancement can be expected towards the 1.3157 and 1.3201 levels.
Should the GBPUSD pair decline below the 1.3116 level, a further decline towards the 1.3086 and 1.3065 levels remains likely.
