GBP/USD slides further below 1.2900 on stronger US Dollar


  • US Dollar Index rises further during the American session, extends the rebound from weekly lows. 
  • UK Parliament votes for the new Speaker while Lagarde gives her first speech as ECB president. 

The GBP/USD pair dropped further under 1.2900 and printed a fresh daily low at 1.2875. Near the end of the session holds around the lows with the bearish tone intact. 

The move lower late in New York took place amid a stronger US Dollar across the board. The DXY is 0.35%, having the best performance in a month. It climbed back above 97.50 as it recovers further after posting on Friday the lowest close in three months. The rally of the Greenback is being supported by higher US yields. The 10-year climbed toward the 1.80% area after trading under 1.70% on Friday. 

The Greenback strengthened despite mixed US data. In the United Kingdom, the Parliament is set to elect a new Speaker. In Berlin, the new European Central Bank President Christine Lagarde made no reference to monetary policy in her first public speech. 

Levels to watch

The GBP/USD holds a bearish tone ahead of the Asian session. The next support might be seen at 1.2855, followed by 1.2840, and then attention would turn to the 1.2800/05 area that capped the downside last week. A break lower would clear the way to more losses. On the upside, now 1.2905 is the immediate resistance and then comes 1.2945 (Nov 4 high) and 1.2975 (last week high). 
 

GBP/USD

Overview
Today last price 1.2878
Today Daily Change -0.0058
Today Daily Change % -0.45
Today daily open 1.2936
 
Trends
Daily SMA20 1.2741
Daily SMA50 1.2492
Daily SMA100 1.2442
Daily SMA200 1.2712
 
Levels
Previous Daily High 1.2973
Previous Daily Low 1.2926
Previous Weekly High 1.2976
Previous Weekly Low 1.2804
Previous Monthly High 1.3013
Previous Monthly Low 1.2194
Daily Fibonacci 38.2% 1.2944
Daily Fibonacci 61.8% 1.2955
Daily Pivot Point S1 1.2917
Daily Pivot Point S2 1.2898
Daily Pivot Point S3 1.287
Daily Pivot Point R1 1.2964
Daily Pivot Point R2 1.2992
Daily Pivot Point R3 1.3011

 

 

 

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.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD stays below 1.3350 on poor UK PMIs

GBP/USD hits fresh session lows of 1.3335 following an unexpected drop in the UK's Preliminary Manufacturing and Service PMI reports. However, the downside appears capped amid growing Brexit optimism. 

GBP/USD News

EUR/USD keeps range around 1.1130 on downbeat PMIs

EUR/USD trims gains to trade near 1.1130 region after the sentiment around the euro was dented by the disappointing German and Eurozone Preliminary Manufacturing PMIs. Trade concerns also keep the gains limited. 

EUR/USD News

The phantom of fear pierces crypto market foundations

Negative technical indicators are extremely volatile and are approaching a technical rebound. Ethereum has fundamentals in play versus Bitcoin which could be lethal. XRP is not immune to downfalls and adds to the dangerous game of critical supports.

Read more

Gold consolidates in a range, flat-lined around $1475 level

Gold extended its sideways consolidative price action through the early European session on Monday and remained confined in a narrow trading band near the $1475 region.

Gold News

USD/JPY: Holding on to higher ground but lacking momentum

Positive developments between the US and China keep the mood up. Japanese data mixed, industrial figures continue disappointing. USD/JPY needs to advance beyond 109.72, December monthly high.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures