GBP/USD rejected near 5-DMA, revisits daily lows

After a solid start to the holiday-thinned week, the GBP/USD pair lost momentum and fell back in the red zone, as the greenback staged a minor-rebound versus its major peers in the Asian session, resuming its recent bullish streak.

Moreover, the latest dovish tilt in the BOE decision combined with looming Brexit concerns continue to weigh on the pound, while markets now await a fresh batch of significant macro releases from both economies to determine next direction on the major.

The spot is currently meandering near 1.2265, testing daily lows struck at 1.2263 in early Asia, and recording -0.08% loss on the day.

Later today, holiday-thinned trades are likely to drive the sentiment amid a data-light calendar as the UK markets are closed on account of Christmas Day celebrations.

GBP/USD Levels to consider            

In terms of technical levels, upside barriers are lined up at 1.2288 (daily high), 1.2300 (round figure) and 1.2379 (Dec 22 high). While supports are seen at 1.2257 (Dec 26 low) and 1.2226 (multi-week low) and below that at 1.2141 (Oct 31 low).