GBP/USD steady holds on to gains around 1.2340

Pound rebounds from one-week lows versus US dollar.
UK Prime Minister Boris Johnson remains in intensive care.

Matías Salord FXStreet

The GBP/USD pair rebounded on Tuesday after falling to 1.2163 during the Asian session. It moved most of the day with a bullish bias and climbed toward 1.2400. It peaked at 1.2382 and then it stabilized around 1.2340. Cable was rejected from under 1.2200 and rose back to the recent familiar range.

The pound fell after UK Prime Minister Boris Johnson was moved to intensive care late on Monday. The pair then rebounded and it accelerated to the upside boosted by a decline of the greenback across the board. UK Foreign Secretary Dominic Raab said on Tuesday, PM Johnson remains in intensive care, “receiving standard oxygen treatment and breathing without any assistance."

It was all about USD

The US dollar was the worst performer on Tuesday amid an improvement in market sentiment. The DXY lost 0.85% and dropped below 100.00. Not even higher US yield helped the dollar.

The GBP/USD remained steady, consolidating around 1.2340 near the end of the American session, in positive territory for the day and back inside the recent range. It held around the mentioned level even as equity prices in Wall Street moved off highs. The Dow Jones was gaining just 0.60% after been up more than 3.50%.

GBP/USD

Overview
Today last price	1.2338
Today Daily Change	0.0106
Today Daily Change %	0.87
Today daily open	1.2232

Trends
Daily SMA20	1.2179
Daily SMA50	1.2651
Daily SMA100	1.2855
Daily SMA200	1.2659

Levels
Previous Daily High	1.2327
Previous Daily Low	1.221
Previous Weekly High	1.2476
Previous Weekly Low	1.2205
Previous Monthly High	1.3201
Previous Monthly Low	1.1412
Daily Fibonacci 38.2%	1.2255
Daily Fibonacci 61.8%	1.2282
Daily Pivot Point S1	1.2186
Daily Pivot Point S2	1.214
Daily Pivot Point S3	1.2069
Daily Pivot Point R1	1.2302
Daily Pivot Point R2	1.2373
Daily Pivot Point R3	1.2419

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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