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). 


Today last price 1.2878
Today Daily Change -0.0058
Today Daily Change % -0.45
Today daily open 1.2936
Daily SMA20 1.2741
Daily SMA50 1.2492
Daily SMA100 1.2442
Daily SMA200 1.2712
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. 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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD falls amid Sino-American tensions ahead of Non-Farm Payrolls

EUR/USD is trading around 1.1850, down amid a risk-off mood stemming from President Trump's move against China's TikTok and WeChat. Tension is mounting ahead of the highly uncertain Non-Farm Payrolls.


Gold consolidates near record highs, flat-lined around $2060 area ahead of NFP

Concerns about escalating US-China tensions pushed gold to fresh record highs on Friday. A goodish pickup in the USD prompted some profit-taking amid overbought conditions. 

Gold News

GBP/USD retreats amid doubts about the furlough scheme, dollar strength

GBP/USD is struggling around 1.31 as UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever. The dollar is gaining ground amid geopolitical tensions ahead of the Non-Farm Payrolls.


Forex Today: Dollar ticks up after Trump's TikTok move, all eyes on Non-Farm Payrolls

Trump's executive order against TikTok and WeChat has dampened the market mood and strengthened the dollar. Fiscal stimulus have made limited progress and investors are now focused on July NFP, which carries high uncertainty amid the resurgence of coronavirus. 

Read more

WTI struggles to keep $42.00 amid risk-off in Asia

WTI extends the previous day’s losses from $42.79, recently bounces off the intraday low. US-China and Washington-Ottawa tussles join dimming hopes of US stimulus to weigh on the risk-tone.

Oil News