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

 

 

 

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