The GBP/USD pair maintained its offered tone through the mid-European session, albeit has managed to rebound over 40 pips from one-week lows. The pair was last seen trading just below mid-1.3800s, still down around 0.30% for the day. The pair extended last week's rejection slide from the key 1.4000 psychological mark and continued losing ground for the third consecutive session on Tuesday. Investors turned cautious following the suspension of the Oxford/AstraZeneca coronavirus vaccine in several European nations. This, in turn, benefitted the safe-haven US dollar and exerted some pressure on the GBP/USD pair.
The greenback was further underpinned by the optimistic US economic outlook, bolstered by the passage of a massive $1.9 trillion stimulus package. That said, a softer tone surrounding the US Treasury bond yields held the USD bulls from placing aggressive bets. This was seen as the only factor that assisted the GBP/USD pair to find some support ahead of the 1.3800 mark.