top of page

GBP/USD: Drops back below 1.3900 on US dollar bounce

  • Writer: analysiswatch
    analysiswatch
  • May 4, 2021
  • 1 min read
  • GBP/USD consolidates the preceding day’s gains, teases intraday low of late.

  • UK can also additionally have a terrific post-Brexit address India however can also additionally warfare over relations with US and the EU.

  • France rejects UKs provisional adjustments to fishing licenses, G7 Foreign Ministers speak geopolitics, COVID.

  • Virus woes weigh on danger sentiment, 2d analyzing of UK Manufacturing PMI, Brexit chatters eyed.




GBP/USD fades jump off intraday low surrounding 1.3880, down 0.20% on a day, whilst heading into the London open on Tuesday. The consolidation of the preceding day’s upbeat marketplace sentiment, amid the coronavirus (COVID-19) woes in Asia-Pacific, currently appears to weigh at the cable. Also at the bad facet can be the Brexit updates and pre-UK Manufacturing PMI careful sentiment.


Looking forward, the very last analyzing of the UK’s Manufacturing PMI for April, anticipated to affirm 60.7 preliminary forecasts, will provide instant path to GBP/USD prices. Additionally, the G7 and the British traders’ response to the present day danger catalyst after an extended weekend will additionally be the important thing to observe for sparkling impulse.


A six-week-vintage ascending fashion channel keeps GBP/USD consumers’ hopeful till the quote remains above 1.3750. Also performing as the important thing help is the 200-day SMA close to 1.3770. Meanwhile, a downward sloping fashion line from April 20 close to 1.3960 guard’s restoration actions beforehand of the 1.4000 hurdle.

 
 
 

Comments


2b94f773-a237-4da7-a599-6b42314ed9e6.png

Risk Disclosure: AnalysisWatch will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
AnalysisWatch would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore AnalysisWatch doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

bottom of page