The GBP/USD managed to regain ground during the European session following last week's stumble and is threatening the 1.6600 psychological level ahead of the New York open. After starting the week on the defensive, the GBP/USD gathered pace and climbed toward the 1.6600 area, although it stalled a few pips shy of it. At time of writing, the GBP/USD is trading at the 1.6590 area, recording a 0.2% gain since opening. In terms of technical levels, if the GBP/USD breaks decisively above 1.6600, next resistances line up at 1.6609 (100-hour SMA) and 1.6665 (Apr 2 high). On the other hand, supports are seen at 1.6564 (Apr 7 low), 1.6550 (Apr 4 low) and 1.6509 (Mar 26 low).