GBP/USD dips under 1.3300 as sterling traders worry about impact of UK Omicron outbreak

Sterling has been under pressure during US trading hours, pulling back from earlier session highs above 1.3350 to fresh session lows under 1.3300. That leaves the pair only a few pips above annual lows printed last Friday at 1.3278. Recent weakness could be a reflection of fears that the Omicron Covid-19 variant, multiple infections of which have now been picked up across the UK, poses downside risks to the UK’s economic recovery this winter.

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GBP/USD

Overview
Today last price 1.3312
Today Daily Change 0.0009
Today Daily Change % 0.07
Today daily open 1.3303
 
Trends
Daily SMA20 1.3448
Daily SMA50 1.3579
Daily SMA100 1.369
Daily SMA200 1.3817
 
Levels
Previous Daily High 1.3363
Previous Daily Low 1.3288
Previous Weekly High 1.3457
Previous Weekly Low 1.3278
Previous Monthly High 1.3834
Previous Monthly Low 1.3434
Daily Fibonacci 38.2% 1.3317
Daily Fibonacci 61.8% 1.3334
Daily Pivot Point S1 1.3273
Daily Pivot Point S2 1.3242
Daily Pivot Point S3 1.3197
Daily Pivot Point R1 1.3348
Daily Pivot Point R2 1.3393
Daily Pivot Point R3 1.3424

 

GBP/USD analysis: Respects weekly pivot point

The weekly simple pivot point and the high-level zone at 1.3364/1.3370 has provided the GBP/USD pair with enough resistance for the rate to decline. Namely, during the first half of Monday's trading hours, the currency rate passed below the 100-hour SMA at 1.3340 and the 50-hour simple moving average at 1.3326.

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