GBP/USD refreshes daily high near 1.3940 on softer USD

  • 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.

Investors anticipate Thursday’s Bank of England (BOE) Monetary Policy Committee (MPC) to assess the forward guidance on inflation and interests rates.

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
Daily SMA20 1.3822
Daily SMA50 1.3937
Daily SMA100 1.3924
Daily SMA200 1.3744
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



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD remains pressured after US data misses estimates

EUR/USD is trading closer to 1.1750, paring its recovery from earlier in the day as the safe-haven dollar is bid. US Consumer Sentiment missed estimates with 72 points in September. The financial woes of China's Evergrande are weighing on sentiment.


GBP/USD trades under 1.38 amid on UK data, dollar strength

GBP/USD is on the back foot, trading under 1.38 after UK Retail Sales figures disappointed with -0.9% in August, worse than expected. Brexit uncertainty and dollar demand weighed on the pair earlier. 


XAU/USD surrenders intraday gains, drops closer to $1,750 level

Gold struggled to preserve its intraday gains and dropped to the lower end of the daily trading range during the early North American session. 

Gold News

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

The latest development in the ongoing SEC vs. Ripple lawsuit is that documents are classified as privileged and blocked for public viewing. Though institutional investors are yet to take big bets on the altcoin in 2021, retail investors are actively trading in XRP.

Read more

US Michigan Consumer Sentiment Preview: Markets will have to look hard for positive signs

Consumer outlook expected to rebound to 72.2 in September. August’s 70.2 was the lowest since December 2011. Inflation and Delta variant wearing on US optimism. Markets face negative dollar risk from fading consumer optimism.

Read more