The pound strengthened against its major counterparts in the European session on Tuesday, as investors awaited UK cross-party talks resuming today to resolve Brexit crisis.

The Prime Minister's deputy, David Lidington, and the Brexit secretary, Steve Barclay, will lead talks with Labour shadow ministers, including shadow Brexit secretary Sir Keir Starmer this afternoon.

A number of working groups involving individual ministers and their Labour counterparts have been scheduled for later in the week.

Meanwhile, the UK Parliament reconvenes today after an 11-day Easter break.

The UK lawmakers' return come amid further challenge to leadership for PM Theresa May.

Expectations that the U.K. PM will face another no-confidence motion dragged down the pound on Monday.

The currency traded mixed against its major counterparts in the Asian session. While it held steady against the franc and the greenback, it rose against the euro. Against the yen, it declined.

The pound appreciated to 1.3266 against the franc, its strongest since March 19. The pound is seen finding resistance around the 1.34 level.

The pound firmed to a 5-day high of 1.3019 against the greenback, from a session's low of 1.2975 hit at 8:15 pm ET. Next likely resistance for the pound is seen around the 1.32 level.

After declining to near a 2-week low of 144.98 against the yen at 9:00 pm ET, the pound reversed direction and advanced to a 5-day high of 145.63. On the upside, 147.00 is possibly seen as the next resistance level for the pound.

The pound climbed to a 4-day high of 0.8642 against the euro, from a low of 0.8674 touched at 6:00 pm ET. The pound is likely to find resistance around the 0.84 level, if it rises further.

Looking ahead, Canada wholesale sales for February, U.S. house price index for the same month, new home sales for March and Eurozone flash consumer sentiment index for April are due in the New York session.

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