- GBP/USD extends the previous session’s upside momentum.
- US Dollar Index slips below 92.00 to trade lower amid mixed economic data and Fed officials views.
- The sterling gains ahead of the BOE meeting due on Thursday.
GBP/USD edges higher on Wednesday’s Asian trading session. The pair bounced quickly from the low of 1.3883 in the overnight session.
At the time of writing, GBP/USD is trading at 1.3934, up 0.14% for the day.
The US Dollar Index (DXY), which tracks the greenback performance against its six major rivals, trades below 92.00 and losses traction in the Asia-pacific timings. Investors rushed to safe-haven assets in view of the rapid spread of the delta variant and its impact on the global economic recovery.
The US Factory Orders jumped 1.5% in July, beating the market forecast by 1%.
Meanwhile, the US Senate committed to formalizing a $1 trillion infrastructure bill, despite some Republicans began complaining about the details of the plan.
On the other hand, the sterling gained from an encouraging end to coronavirus infections in highly-vaccinated Britain.
Meantime, the Brexit red tape held up the supply chain, which could adversely affect the UK manufacturing of goods from cars to fridges. A limiting factor for the pound’s upside momentum.
As for now, investors await the US ADP Employment Change to take fresh trading impetus.
GBP/USD additional levels
|Today last price||1.3931|
|Today Daily Change||0.0016|
|Today Daily Change %||0.11|
|Today daily open||1.3915|
|Previous Daily High||1.3939|
|Previous Daily Low||1.3882|
|Previous Weekly High||1.3984|
|Previous Weekly Low||1.3737|
|Previous Monthly High||1.3984|
|Previous Monthly Low||1.3572|
|Daily Fibonacci 38.2%||1.3917|
|Daily Fibonacci 61.8%||1.3903|
|Daily Pivot Point S1||1.3885|
|Daily Pivot Point S2||1.3855|
|Daily Pivot Point S3||1.3828|
|Daily Pivot Point R1||1.3942|
|Daily Pivot Point R2||1.3969|
|Daily Pivot Point R3||1.3999|
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