GBP/USD teases 1.3800 amid risk aversion, FOMC minutes eyed

GBP/USD treads water on Wednesday’s Asian trading session. The pair fell sharply from the high of 1.3898  and touched the intraday low at 1.3773. At the time of writing, GBP/USD is trading at 1.3794, down 0.04% for the day.

The US Dollar Index (DXY), which tracks the performance of the greenback against its six major rivals, stands at 92.55 with minute gains.  Investors await FOMC minutes release for an update on the Fed's future guidance on next policy steps. A more hawkish tone could underpin the demand for the US dollar.

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GBP/USD

Overview
Today last price 1.3798
Today Daily Change -0.0002
Today Daily Change % -0.01
Today daily open 1.38
 
Trends
Daily SMA20 1.3937
Daily SMA50 1.4025
Daily SMA100 1.395
Daily SMA200 1.366
 
Levels
Previous Daily High 1.3898
Previous Daily Low 1.3773
Previous Weekly High 1.394
Previous Weekly Low 1.3732
Previous Monthly High 1.4249
Previous Monthly Low 1.3787
Daily Fibonacci 38.2% 1.3821
Daily Fibonacci 61.8% 1.3851
Daily Pivot Point S1 1.3749
Daily Pivot Point S2 1.3699
Daily Pivot Point S3 1.3624
Daily Pivot Point R1 1.3874
Daily Pivot Point R2 1.3949
Daily Pivot Point R3 1.3999

 

GBP/USD Price Analysis: Bears flirt with five-month-old support near 1.3800

GBP/USD bears take a breather around 1.3800, following a U-turn from the one-week top, amid Wednesday’s Asian session. In doing so, the cable takes rounds to an ascending support line from early February.

Given the room between the RSI’s current condition and oversold levels, not to forget the pair’s failure to keep bounce off the stated support line, GBP/USD bears remain hopeful to visit the 1.3670-60 support-zone, comprising 200-DMA and lows marked during March and April.

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