GBP/USD consolidates losses above 1.3900 on Brexit relief, UK Retail Sales eyed
GBP/USD snaps three-day downtrend to early May lows while staying firmer around 1.3935 amid the initial Asian session trading on Friday. In doing so, the cable pair cheers mildly bid S&P 500 Futures as well as positive news concerning Brexit and the UK’s covid-led unlock.
|Today last price||1.3942|
|Today Daily Change||0.0020|
|Today Daily Change %||0.14|
|Today daily open||1.3922|
|Previous Daily High||1.4009|
|Previous Daily Low||1.3896|
|Previous Weekly High||1.4191|
|Previous Weekly Low||1.4073|
|Previous Monthly High||1.4234|
|Previous Monthly Low||1.3801|
|Daily Fibonacci 38.2%||1.3939|
|Daily Fibonacci 61.8%||1.3966|
|Daily Pivot Point S1||1.3876|
|Daily Pivot Point S2||1.3829|
|Daily Pivot Point S3||1.3763|
|Daily Pivot Point R1||1.3989|
|Daily Pivot Point R2||1.4055|
|Daily Pivot Point R3||1.4102|
GBP/USD: Gains are likely to be limited
GBPUSD initial break below 100 month moving average support at 1.4080/60 was very frustrating with an unexpected bounce back to 1.4132 before the pair collapsed on the Fed minutes. EURGBP remains in a triangle pattern from support at the May/June low at 8563/8558 to strong resistance at 8635/45. Both of which are holding perfectly so far this week. GBPNZD broke higher to 1.9864 but unexpectedly collapsed to 1.9700.
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