GBP/USD: pressuring 1.3500, bearish
|GBP/USD Current price: 1.3502
- UK House prices rose less-than-expected in the three months to April.
- Crude oil prices could affect the Pound today, as it's all about Trump and the Iranian nuclear deal.
The GBP/USD pair pressures the 1.3500 figure after peaking for the day at 1.3592, with the Pound weaker amid another disappointing UK figure, and the dollar strengthening again. The UK Halifax House Price report showed that prices in the three months to April were 2.2% higher than in the same period a year earlier, down from the previous 2.7% annual growth, according to the official release. Monthly basis, prices fell by 3.1% in April, largely surpassing the expected 0.2% decline. Lower oil prices are adding to Pound's bearish extend, although affecting it to a lesser extent than that on the CAD or the AUD. Trump's decision on the Iranian nuclear deal, is the most relevant event of the day, although the US will also release a couple of optimism indexes in the way.
The 4 hours chart shows that the pair is below a bearish 20 SMA after a short-lived attempt to regain ground above it, while technical indicators resumed their declines within negative territory. Struggling with 1.3500, the pair is on a brink of breaking the multi-month low posted post-Nonfarm Payrolls at 1.3485. July's monthly low comes at 1.3481, making of the area the immediate support, with a break below it supporting a downward extension toward the 1.3410 price zone, should dollar's demand persists.
Support levels: 1.3480 1.3445 1.3410
Resistance levels: 1.3550 1.3590 1.3625
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.