Investing.com - The pound halted its rebound against the U.S. dollar on Monday, falling from a 2-day high as investors reconsidered the possibility that the U.S. Federal Reserve would carry out an earlier-than-expected interest rate hike.
GBP/USD hovered around 1.5456 during early European trade, shedding 0.11%, after falling from 1.5504, its highest rate since Thursday. Cable was likely to find support at 1.5344, Friday's low and a 9-month low, and resistance at 1.5688, Thursday's high.
The pound also fell slightly against the euro, with EUR/GBP rising 0.05% to hit 0.8802.
Later this week, U.S. Federal Reserve chief Ben Bernanke is expected to shed light on the central bank's sudden decision to hike an emergency bank-lending rate on Friday, which sparked speculation on monetary tightening.
Bernanke is set to appear before the financial committee of the House of Representatives on Wednesday and the Senate banking panel the following day.