GBP/USD remains capped below 1.2500 amid softer equities

The GBP/USD pair fails every attempt to rise above 1.25 handle, but in vain, as the sellers keep lurking just shy of the last amid reduced demand for risk assets such as equities, GBP etc.

However, the losses remain capped amid broad based US dollar weakness, which helps keep the major to remain in a tight range above 1.2470 levels – immediate support.

More so, a lack of fundamental drivers amid a data-empty UK docket and a light US calendar also keeps the GBP traders on the sidelines alongside cable.

Looking ahead, the first half of this week remains fairly quiet and hence, all eyes remain on a fresh batch of US and UK economic releases due out during the latter part of this week, with markets heading into Christmas celebrations.

GBP/USD Levels to consider            

In terms of technical levels, upside barriers are lined up at 1.2500 (zero figure), 1.2555 (10-DMA) and 1.2573 (20-DMA). While supports are seen at 1.2457 (50-DMA) and 1.2400 (round figure) and below that at 1.2357 (Nov 23 low).