GBP/USD extends losses and drops below 1.2700 as May speaks ahead of Brexit “meaningful vote”
|- GBP/USD drops further as the pound tumbles across the board.
- Brexit deal being debated at the Parliament, vote on the deal expected around 20:00 GMT. May is speaking at Parliament.
- The pound weakened sharply across the board and reversed from weekly highs.
The GBP/USD pair dropped further and bottomed at 1.2694, the lowest since January 4. The last leg lower took place as PM May’s speaks at the Parliament.
As of writing trades at 1.2700/10, under pressure and with the negative tone intact and uncertainty increasing.
Volatility is likely to remain high ahead of the vote on UK PM May’s Brexit deal at the Parliament. Lawmakers are expected to reject the deal. If a large majority votes against it, it could delay or create the conditions for a “hard” Brexit. Also, the opposition Labour Party will likely call a vote of no confidence.
GBP/USD Levels to watch
To the downside, support levels might be located at 1.2675/80, followed by 1.2645 (Jan 3 high) and 1.2615 (Dec 27 & Jan 4 low). On the upside, resistance levels could now be seen at 1.2735, 1.2800/05 (Jan 9 high) and 1.2865 (Jan 11 high).
GBP/USD
Overview:
Today Last Price: 1.2718
Today Daily change: -1.5e+2 pips
Today Daily change %: -1.17%
Today Daily Open: 1.2868
Trends:
Previous Daily SMA20: 1.2708
Previous Daily SMA50: 1.2763
Previous Daily SMA100: 1.2893
Previous Daily SMA200: 1.3118
Levels:
Previous Daily High: 1.2931
Previous Daily Low: 1.2818
Previous Weekly High: 1.2866
Previous Weekly Low: 1.2704
Previous Monthly High: 1.284
Previous Monthly Low: 1.2477
Previous Daily Fibonacci 38.2%: 1.2888
Previous Daily Fibonacci 61.8%: 1.2861
Previous Daily Pivot Point S1: 1.2813
Previous Daily Pivot Point S2: 1.2759
Previous Daily Pivot Point S3: 1.27
Previous Daily Pivot Point R1: 1.2926
Previous Daily Pivot Point R2: 1.2985
Previous Daily Pivot Point R3: 1.304
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