GBP/USD prints fresh daily lows below 1.3830

Cable drops after rising during three consecutive days.
DXY gains 0.15% on a quiet day across financial markets.

Matías Salord FXStreet

The GBP/USD dropped further during the American session and printed a fresh daily low at 1.3817, slightly above Friday’s low. It is hovering around 1.3830, about to post the worst slide in seven trading days. The pound is pulling back after being unable to hold above 1.3900.

An upside correction of the US dollar and a modestly weaker pound pushed GBP/USD to the downside. On Friday the greenback dropped sharply after the NFP report and on Monday it corrected higher. The DXY is rising for the first time in five days, gaining 0.15%.

Price action across financial markets remain quiet. US markets are closed for a holiday, so trading volumes are likely to remain low until Tuesday.

For the days ahead, the economic calendar looks light. The critical day in the UK and the US will be on Friday. In the US the PPI will be released, with the headline expected to reach 8.2%. In the UK, on Friday, July GDP, construction output, industrial production and construction data are due.

Also traders will continue to watch closely statements from Bank of England official ahead of the September 23 meeting. In the US, Fed’s comments would be interesting following the disappointing NFP.

Technical levels

GBP/USD

Overview
Today last price	1.3829
Today Daily Change	-0.0045
Today Daily Change %	-0.32
Today daily open	1.3874

Trends
Daily SMA20	1.3775
Daily SMA50	1.3808
Daily SMA100	1.3922
Daily SMA200	1.3815

Levels
Previous Daily High	1.3892
Previous Daily Low	1.3818
Previous Weekly High	1.3892
Previous Weekly Low	1.3731
Previous Monthly High	1.3958
Previous Monthly Low	1.3602
Daily Fibonacci 38.2%	1.3864
Daily Fibonacci 61.8%	1.3846
Daily Pivot Point S1	1.3831
Daily Pivot Point S2	1.3788
Daily Pivot Point S3	1.3757
Daily Pivot Point R1	1.3904
Daily Pivot Point R2	1.3935
Daily Pivot Point R3	1.3978

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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