The GBP/USD pair maintained its offered tone below mid-1.3900s and had a rather muted reaction to the UK macro releases. The pair faced rejection near the key 1.4000 psychological mark and for now, seems to have stalled this week's strong positive move from the vicinity of over one-month lows touched last Friday. This marked the first day of a negative move in the previous four and was exclusively sponsored by the emergence of some fresh buying around the US dollar.
A modest uptick in the US Treasury bond yields assisted the USD to stage a goodish bounce from one-week lows, which, in turn, exerted some downward pressure on the GBP/USD pair. That said, the risk-on mood, which got an additional boost after US President Joe Biden signed a $1.9 trillion stimulus bill into law, capped gains for the safe-haven USD.