GBP/USD Price Analysis: 21-HMA rescues bulls after Brexit-news led 40-pips drop
Having faced rejection once again below 1.3300, GBP/USD quickly eroded 40-pips from daily highs of 1.3287 after negative Brexit headlines. Fresh reports hit the wires, citing the EU negotiating team, there is no breakthrough on Brexit talks, as the UK has failed to move its stance on fisheries, state aid and governance.
However, the 21-hourly moving average (HMA) support at 1.3250 came to the rescue of the GBP bulls, allowing a brief bounce to near 1.3265 region, as of writing. As the spot recovery from session lows of 1.3249, the bulls recapture the 50-HMA at 1.3257. Read more...
GBP/USD Analysis: Bulls eyeing recent highs despite stalled Brexit talks
The GBP/USD pair gained some positive traction on the last day of the week and built on the previous day's goodish rebound from sub-1.3200 level. The uptick was supported by a subdued US dollar demand – amid conflicting signals from the US regarding COVID-19 stimulus – and got an additional boost following the release of upbeat UK retail sales figures.
Reports indicated that US Senate Republican and Democrat leaders had agreed to resume negotiations on another coronavirus stimulus package. The positive development, to a larger extent, was offset by the US Treasury Secretary Steven Mnuchin's decision to end some of the pandemic relief for struggling businesses. The announcement took its toll on the global risk sentiment and extended some support to the greenback's safe-haven status. However, concerns about the economic fallout from the imposition of new COVID-19 restrictions in several US states and dovish Fed expectations held the USD bulls from placing aggressive bets. Read more...
GBP/USD clings to gains near 1.3280 region, moves little post-UK retail sales data
The GBP/USD pair held on to its modest intraday gains near the 1.3275-80 region and had a rather muted reaction to the latest UK macro data.
The pair managed to regain some positive traction on the last day of the week and built on the previous day's goodish bounce of around 65 pips from sub-1.3200 level. The uptick was sponsored by the emergence of some fresh selling around the US dollar following the US Treasury Secretary Steven Mnuchin's decision to end pandemic relief funding for struggling businesses. Read more...
|Today last price||1.3284|
|Today Daily Change||0.0010|
|Today Daily Change %||0.08|
|Today daily open||1.3274|
|Previous Daily High||1.3279|
|Previous Daily Low||1.3196|
|Previous Weekly High||1.3314|
|Previous Weekly Low||1.3107|
|Previous Monthly High||1.3177|
|Previous Monthly Low||1.282|
|Daily Fibonacci 38.2%||1.3247|
|Daily Fibonacci 61.8%||1.3228|
|Daily Pivot Point S1||1.322|
|Daily Pivot Point S2||1.3166|
|Daily Pivot Point S3||1.3137|
|Daily Pivot Point R1||1.3304|
|Daily Pivot Point R2||1.3333|
|Daily Pivot Point R3||1.3387|
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