FXStreet — The GBP/USD traded last at 1,2978 and to 0.18 percent in the Minus after the High or Low of the last 24 trading hours at 1,3035 or 1,2953 was marked.
The British pound was advised on Tuesday by a new terrorist attack in the UK under some pressure. The British politicians said the election dates and the likely that Sterling charge, due to the unstable political situation.
On the island state, the Net borrowing of the public sector to put a much stronger than expected, while the CBI survey for Marketing was via the reporting month of May is disappointing. Until Thursday, where the gross domestic product will be published, from the UK, no further economic data on the Agenda.
The US Dollar could, however, celebrate today, a Comeback and the DXY appreciated by 0.31 percent. However, the downward trend of the US currency is likely to remain intact as long as the political waves in the United States are not smoothed.
The Scotiabank market analysts said that short-term signals for the pound is neutral. «The key support is now at 1,2905/10».
Karen Jones, head of FICC Technical analysis at Commerzbank, notes that GBP/USD may start a recovery attempt to 1,3440, as long as the trade on 1,2776/71 takes place.. «The Sterling fights more about the 29. Sept. To overcome high of 1,3060. The movement to the new High was not confirmed by the daily RSI and we see on the daily chart a Count of 13. The market is likely to consolidate in the short term, fall/. About 1,2776/71 the focus is on the September 2017 High of 1,3443. The market must fall below the Low of 21 April of 1.2760/58, so that the decline of pressure. Thus, the focus shifts to the 200-day MA of 1,2596.”
** FXStreet News Editorial, FXStreet**