GBP/USD holding ground, eyes on 1.41

• The GBP is balancing in quiet markets after whipping last week.
• A lack of data will see the Sterling in a reactionary stance through Monday's session.

The Sterling is trading flat and steady just beneath 1.4100 ahead of the European markets for Monday.

The outlook for the GBP/USD remains fairly positive overall, despite some lag in recent economic indicators and a notable lack of monetary policy words from the Bank of England's Mark Carney at a speaking engagement last week. The Sterling has lifted steadily since bottoming at 1.1985 in early January, but a bullish continuation from here will require bulls first successfully break the double-top formed above 1.4200.

The macro calendar is likewise thin for the GBP until Wednesday, with monthly Industrial and Manufacturing Production figures at 08:30 that day. Industrial Production is expected to slow down from the previous 1.3 percent to only 0.3 percent, while Manufacturing Production is expected to clock in at 0.5 percent, an uptick from the previous 0.1 percent.

Markets are still waiting for China's response in the latest round of the ongoing tariff tensions

Monday will also be quiet for the US session with nothing major scheduled, but traders will be keeping a close eye on US-China headlines that dominated market sentiment last week. China still has yet to respond to the US' last round of tariff threats last week, and Beijing is unlikely to respond yet as the Chinese long holiday continues.

GBP/USD Levels to watch

Friday's surge brought the pair back on-balance following a dip earlier in the week's action, and now the Sterling is poised to try again for another run at higher figures, but buyers and sellers are mixed up in the middle for now, and as FXStreet's own Valeria Bednarik noted earlier, "the daily chart for the pair presents a neutral-to-bullish stance, as it settled a few pips above its 20 SMA, although below a relevant Fibonacci resistance at 1.4125, while the RSI indicator turned higher around its midline, still below its previous weekly high, while the Momentum maintains a modest bearish slope around its 100 level. In the 4 hours chart, technical indicators have lost upward strength around their mid-lines, while the pair ended above its 20 SMA and 200 EMA, both anyway flat, suggesting that demand remains limited at the time being."

Support levels: 1.4050 1.4010 1.3965

Resistance levels: 1.4125 1.4160 1.4200