• GBP/USD tracks higher on Friday in the Asian trading hours.
  • US Dollar Index retreats from the previous day’s high to trade stable near 92.50.
  • The sterling gains on hawkish BOE view, UK data eyed.

The GPD/USD extends the previous session’s gain on Friday and continues to extend the gains toward 1.3850. The pair is expected to close the week on a higher note.

At the time of writing, GBP/USD is trading at 1.3847, up 0.08% for the day.

The US Dollar Index (DXY), which tracks the greenback performance against its six major rivals, retreats from the higher levels following a downtick in the US 10-year benchmark Treasury yields.

Investors remained pessimistic about the rising coronavirus cases and their impact on the economic recovery. President Joe Biden announced an anti-vaccine movement on Thursday. He took aim at vaccine resistance in America. Adding to the optimism were the Biden-Xi talks.

On the data front, the US Initial Jobless Claims fell to a fresh pandemic low. The claims fell more than market expectation to 310K, after disappointing NFP data in the previous week 

On the other hand, the sterling rallied following the optimism about the expectations of the Bank of England's  (BOE) interest rate hike decision sooner than expected in the first half of 2022.

Furthermore, the gains were limited after the Leader of the  Northern Ireland’s (NI) largest British unionist party highlighted post-Brexit tensions.

As for now, investors turn their attention to the UK’s Balance of Trade, Industrial Production, and US PPI data to trade fresh trading impetus.

GBP/USD additional levels

GBP/USD

Overview
Today last price 1.3846
Today Daily Change 0.0010
Today Daily Change % 0.07
Today daily open 1.3836
 
Trends
Daily SMA20 1.3768
Daily SMA50 1.3807
Daily SMA100 1.3918
Daily SMA200 1.3823
 
Levels
Previous Daily High 1.3863
Previous Daily Low 1.3754
Previous Weekly High 1.3892
Previous Weekly Low 1.3731
Previous Monthly High 1.3958
Previous Monthly Low 1.3602
Daily Fibonacci 38.2% 1.3821
Daily Fibonacci 61.8% 1.3795
Daily Pivot Point S1 1.3772
Daily Pivot Point S2 1.3709
Daily Pivot Point S3 1.3663
Daily Pivot Point R1 1.3881
Daily Pivot Point R2 1.3926
Daily Pivot Point R3 1.399

 


 

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