- GBP/USD remains mildly positive near the highest in nine days, pulls back recently.
- Coronavirus cases in the UK surge, the US dethrones China as the most infected nation.
- The EU-UK Brexit talks stalled, UK PM Johnson accused to put Brexit over breathing.
- US House votes on the COVID-19 bill, virus updates become the key to watch.
While joining the chorus to cheer the US dollar weakness, GBP/USD pierces 1.2300, currently up 0.50% around 1.2265, ahead of the London open on Friday. In doing so, the Cable takes cluesa from the coronavirus (COVID-19) outbreak at home as well as Brexit pessimism. Moving on, traders await the US House votes on the COVID-19 Relief Bill for near-term direction.
The US toppled China with more than 81,000 virus cases whereas the BBC cites the highest single-day increase in the UK’s death toll, by 103 to 578, on Thursday.
Elsewhere, the Guardian cited deep differences between the UK and EU over the Brexit talks that are already in the deep freeze for now while the Mirror said that the UK won't take part in EU drive for ventilators because of Brexit.
On the other hand, the US dollar registered broad weakness as the markets’ weighed multiple concerns ranging from downbeat employment data to the outbreak in the US.
The risk-tone remains mildly positive with the US 10-year treasury yields being above 0.80% and most Asian stocks flashing the gains.
While the uncertainty over the House voting on the key bill is likely to keep the pair on the front-foot a likely passage could trigger the pair’s pullback on the news. As a result, traders will keep eyes on the macros for fresh direction while the US Michigan Consumer Sentiment Index could offer intermediate direction.
Only if the pair slips below 10-day SMA level of 1.1870, it can recall the sellers else 1.2365, comprising 21-day SMA, flashes on the bull’s radar.
Additional important levels
|Today last price||1.2264|
|Today Daily Change||58 pips|
|Today Daily Change %||0.48%|
|Today daily open||1.2206|
|Previous Daily High||1.223|
|Previous Daily Low||1.1778|
|Previous Weekly High||1.24|
|Previous Weekly Low||1.1412|
|Previous Monthly High||1.3204|
|Previous Monthly Low||1.2726|
|Daily Fibonacci 38.2%||1.2057|
|Daily Fibonacci 61.8%||1.195|
|Daily Pivot Point S1||1.1912|
|Daily Pivot Point S2||1.1619|
|Daily Pivot Point S3||1.146|
|Daily Pivot Point R1||1.2365|
|Daily Pivot Point R2||1.2523|
|Daily Pivot Point R3||1.2817|
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.