The GBP/USD pair climbed higher toward the 1.32 mark earlier in the day but failed to preserve its momentum amid a lack of fundamental drivers and fresh headlines surrounding Brexit. As of writing, the pair was trading at 1.3140, losing 0.10% on a daily basis.
Earlier today, the European Union’s Chief Brexit Negotiator, Michel Barnier, said that they could allow a Brexit delay until 22 of May but added that it was up to EU leaders to grant it. Meanwhile, yesterday’s talks between British Prime Minister Theresa May and opposition Labour’s leader Corbyn didn’t produce any headlines suggesting that sides were likely to come up with a plan that will be supported by Labour.

Meanwhile, the US Dollar Index, which lost its traction yesterday with the greenback struggling to find demand in the risk-on atmosphere, found support near the 97 mark and is now posting small gains on a daily basis, making it difficult for the pair to turn north.

Weekly jobless claims from the U.S. will be released later in the session. Additionally, Cleveland Fed President Mester and New York Fed President Williams are scheduled to deliver speeches as well.