GBP/USD struggles at 1.3700 amid US dollar weakness across the board
The GBP/USD pair stalls at the 50-DMA retrace below 1.3700. Risk-on market sentiment boosts the GBP undermines the greenback. GBP/USD: The Relative Strength Index above 50, aiming higher, indicates that there could be a leg-up near 1.3800. The GBP/USD retreats from the daily high around 1.3733, advances 0.20% during the New York session, trading at 1.3688 at the time of writing. The British pound could not hold to the 1.3700 level, broke the latter in a counter-trend move, which in 4-hours witnessed a 60 pip drop. Read more...
|Today last price||1.3676|
|Today Daily Change||0.0016|
|Today Daily Change %||0.12|
|Today daily open||1.366|
|Previous Daily High||1.3665|
|Previous Daily Low||1.3576|
|Previous Weekly High||1.3659|
|Previous Weekly Low||1.3532|
|Previous Monthly High||1.3913|
|Previous Monthly Low||1.3412|
|Daily Fibonacci 38.2%||1.3631|
|Daily Fibonacci 61.8%||1.361|
|Daily Pivot Point S1||1.3602|
|Daily Pivot Point S2||1.3544|
|Daily Pivot Point S3||1.3513|
|Daily Pivot Point R1||1.3692|
|Daily Pivot Point R2||1.3723|
|Daily Pivot Point R3||1.3781|
GBP/USD Forecast: Additional gains likely with daily close above 1.3700
GBP/USD has regained bullish momentum on dollar weakness, Brexit optimism. US Treasury bond yields continue to impact greenback's valuation. A daily close above 1.3700 could bring in additional buyers. The GBP/USD pair broke out of its weekly trading channel on Wednesday and extended its advance to a fresh 15-day high near 1.3700 on Thursday amid dollar weakness and Brexit optimism. Read more...
GBP/USD hits 2-week high on BOE rate hike uncertainty, Bitcoin prices edge closer to $60K
GBPUSD hit a 2-week high in today’s trading session, as markets reacted to comments from a policymaker from the BOE. The Bank of England member Silvana Tenreyro was speaking regarding the potential for a near-term rate hike, due inflation concerns. In her comments Tenreyro stated that, "Typically, for short-lived effects on inflation, such as the big rises in the prices of semiconductors or energy prices, it would be self-defeating to try to respond to their direct effects". Read more...
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