GBP/USD Fails First Attempt To Break Critical Number

GBP/USD pair is attempting to correct a daily bearish impulse and is trading 0.18% higher on Monday’s session. GBP/USD has travelled from as low as 1.3402 to a high of 1.3449, scoring the high in recent trade as bulls take on daily resistance with 1.3480 eyed.

The sterling has been edging higher at the start of the week despite post-Brexit trade arrangements for Northern Ireland, the said arrangements are still a risk.

Relations between the UK and EU have been tattered due to the brinkmanship over the British threats to trigger an emergency clause known as Article 16 of the Northern Ireland Protocol.

The pound is particularly vulnerable as the prospects of a trade war are an outcome that would be expected to leave the UK worse off by comparison.