Friday, 20 July 2018
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GBP/USD treading water below 1.3400
Thursday, 7 December 2017 16:34 WIB | CURRENCIES |GBP/USD

The Sterling remains vulnerable in the second half of the week, with GBP/USD now attempting to consolidate below the 1.3400 handle.

GBP/USD focus on Brexit talks

Cable is shedding ground since Tuesday and continues to trade close to multi-day lows around 1.3360 seen on Wednesday.

Increasing instability around the UK political scenario, renewed Brexit jitters and the bid bias surrounding the greenback are all collaborating with the pair™s 2-cent decline from last week™s tops in the mid-1.3500s.

GBP/USD levels to consider

As of writing, the pair is losing 0.12% at 1.3376 and a break below 1.3358 (low Dec.6) would aim for 1.3305 (21-day sma) and then 1.3221 (low Nov.28). On the other hand, the immediate up barrier aligns at 1.3409 (10-day sma) seconded by 1.3478 (high Dec.5) and finally 1.3550 (high Dec.1).

Source: FXstreet

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