The GBP/USD pair retreated around 100 pips from daily swing highs.

GBP/USD struggled to preserve its intraday gains to two-day tops, around the 1.3670 region.A modest intraday USD bounce was seen as a key factor exerting some pressure on the major.Disappointing US ADP report capped the attempted USD recovery ahead of the FOMC minutes.

The GBP/USD pair retreated around 100 pips from daily swing highs and dropped to the 1.3560 neighbourhood in the last hour, albeit quickly recovered few pips thereafter.

The pound witnessed some selling after the UK Prime Minister Boris Johnson said this Wednesday that the end of the lockdown will not be a big bang and that it will be a slow unravelling.

All in all, cable has limited room to rise.

Resistance is at the daily high of 1.3700 critical round figure mark, which is also the highest since 2018. Next resistance awaits at 1.3730 and 1.3810, levels last seen nearly three years ago.

On the flip side ,key support resistance awaits at 1.3600, a swing high point around Christmas which coincides with an ascending trend-line support , followed by 1.3560 that supports the pair last week. Further down south , 1.344 awaits GBP/USD.