GBP/USD steadies above 1.2800 handle, headed back to session highs

Having retested sub-1.2800 level, the GBP/USD pair managed to catch some fresh bids and is now headed back to the top end of daily trading range.

Currently trading around 1.2815-20 region, persistent US Dollar selling pressure, in wake of Emmanuel Macron's win in the first round of French Presidential election, helped the pair to regain traction near the 1.2775-70 support area. 

Also collaborating to the up-move has been buoyant sentiment surrounding the British Pound, which continues to find fresh buying interest on every retracement as markets seemed convinced that the upcoming UK election would strengthen May's position during the Brexit negotiations. 

UK: Tories will increase their majority - BBH

With an empty economic docket on Monday, traders now look forward to Minneapolis Fed President Neel Kashkari's scheduled speech, later during the NY session, for some fresh impetus. 

Technical levels to watch

Bulls would be eyeing for a decisive break through 1.2835-40 immediate resistance, above which the pair is likely to aim towards reclaiming the 1.2900 handle with some intermediate resistance near 1.2870-75 zone.

On the flip side, weakness below 1.2775-70 immediate support, leading to a subsequent break below mid-1.2700s, might negate bullish bias and drag the pair back towards 1.2710-1.2700 support area.