GBP/USD refreshes session low, bears eyeing a follow-through weakness below 1.3100 mark
5/6/2019 12:05:49 PM
header-image

• The prevalent risk-off mood underpins USD’s relative safe-haven status against the GBP. • Cross-driven weakness further collaborates to intraday do

   •  The prevalent risk-off mood underpins USD’s relative safe-haven status against the GBP.
   •  Cross-driven weakness further collaborates to intraday downfall amid thin liquidity.
   •  Market participants now eye Fedspeaks for some short-term trading opportunities.

   •  The prevalent risk-off mood underpins USD’s relative safe-haven status against the GBP.
   •  Cross-driven weakness further collaborates to intraday downfall amid thin liquidity.
   •  Market participants now eye Fedspeaks for some short-term trading opportunities.


The GBP/USD pair maintained its offered tone through the mid-European session on Monday, with bears now eyeing a follow-through weakness the 1.3100 handle.

GBP/USD

The pair met with some fresh supply at the start of a new trading week and eroded a part of Friday's upsurge of nearly 200-pips to one-month tops. The initial leg of the positive momentum was triggered by softer US wage growth data and further fueled by optimism over a possible cross-party Brexit agreement. 

Brexit

With investors still awaiting fresh updates from the UK cross-party talks, resuming on Tuesday, the prevalent risk-off mood, led by negative US-China trade-related headlines, boosted the US Dollar's relative safe-haven status and turned out to be one of the key factors prompting some long-unwinding trade.

US Dollar

Meanwhile, some cross-driven weakness, steaming out of a sharp intraday rebound in the EUR/GBP cross and heavily selling around the GBP/JPY cross, exerted some additional downward pressure amid absent relevant market moving economic releases, either from the UK or the US. 

EUR/GBPeconomic releases

Hence, it would be prudent to wait for a strong follow-through selling before positioning for any further intraday slide. In the absence of any fundamental catalyst, market participants might take cues from scheduled speeches by influential FOMC member in order to grab some short-term trading opportunities. 

Technical levels to watch

Technical levels to watch

GBP/USD

Overview
Today last price 1.3101
Today Daily Change -0.0075
Today Daily Change % -0.57
Today daily open 1.3176
 
Trends
Daily SMA20 1.3018
Daily SMA50 1.3109
Daily SMA100 1.2988
Daily SMA200 1.296
Levels
Previous Daily High 1.3178
Previous Daily Low 1.2988
Previous Weekly High 1.3178
Previous Weekly Low 1.2904
Previous Monthly High 1.3196
Previous Monthly Low 1.2865
Daily Fibonacci 38.2% 1.3106
Daily Fibonacci 61.8% 1.3061
Daily Pivot Point S1 1.3051
Daily Pivot Point S2 1.2925
Daily Pivot Point S3 1.2861
Daily Pivot Point R1 1.324
Daily Pivot Point R2 1.3304
Daily Pivot Point R3 1.343

 

GBP/USD

Overview
Today last price 1.3101
Today Daily Change -0.0075
Today Daily Change % -0.57
Today daily open 1.3176
 
Trends
Daily SMA20 1.3018
Daily SMA50 1.3109
Daily SMA100 1.2988
Daily SMA200 1.296
Levels
Previous Daily High 1.3178
Previous Daily Low 1.2988
Previous Weekly High 1.3178
Previous Weekly Low 1.2904
Previous Monthly High 1.3196
Previous Monthly Low 1.2865
Daily Fibonacci 38.2% 1.3106
Daily Fibonacci 61.8% 1.3061
Daily Pivot Point S1 1.3051
Daily Pivot Point S2 1.2925
Daily Pivot Point S3 1.2861
Daily Pivot Point R1 1.324
Daily Pivot Point R2 1.3304
Daily Pivot Point R3 1.343

GBP/USD

Overview
Today last price 1.3101
Today Daily Change -0.0075
Today Daily Change % -0.57
Today daily open 1.3176
 
Trends
Daily SMA20 1.3018
Daily SMA50 1.3109
Daily SMA100 1.2988
Daily SMA200 1.296
Levels
Previous Daily High 1.3178
Previous Daily Low 1.2988
Previous Weekly High 1.3178
Previous Weekly Low 1.2904
Previous Monthly High 1.3196
Previous Monthly Low 1.2865
Daily Fibonacci 38.2% 1.3106
Daily Fibonacci 61.8% 1.3061
Daily Pivot Point S1 1.3051
Daily Pivot Point S2 1.2925
Daily Pivot Point S3 1.2861
Daily Pivot Point R1 1.324
Daily Pivot Point R2 1.3304
Daily Pivot Point R3 1.343

GBP/USD

Overview
Today last price 1.3101
Today Daily Change -0.0075
Today Daily Change % -0.57
Today daily open 1.3176
 
Trends
Daily SMA20 1.3018
Daily SMA50 1.3109
Daily SMA100 1.2988
Daily SMA200 1.296
Overview
Today last price 1.3101
Today Daily Change -0.0075
Today Daily Change % -0.57
Today daily open 1.3176
Overview Overview Overview Today last price 1.3101 Today Daily Change -0.0075 Today Daily Change % -0.57 Today daily open 1.3176 Today last price 1.3101 Today last price1.31011.3101 Today Daily Change -0.0075 Today Daily Change-0.0075-0.0075 Today Daily Change % -0.57 Today Daily Change %-0.57-0.57 Today daily open 1.3176 Today daily open1.31761.3176
 
Trends
Daily SMA20 1.3018
Daily SMA50 1.3109
Daily SMA100 1.2988
Daily SMA200 1.296
Trends Trends Trends Daily SMA20 1.3018 Daily SMA50 1.3109 Daily SMA100 1.2988 Daily SMA200 1.296 Daily SMA20 1.3018 Daily SMA201.30181.3018 Daily SMA50 1.3109 Daily SMA501.31091.3109 Daily SMA100 1.2988 Daily SMA1001.29881.2988 Daily SMA200 1.296 Daily SMA2001.2961.296
Levels
Previous Daily High 1.3178
Previous Daily Low 1.2988
Previous Weekly High 1.3178
Previous Weekly Low 1.2904
Previous Monthly High 1.3196
Previous Monthly Low 1.2865
Daily Fibonacci 38.2% 1.3106
Daily Fibonacci 61.8% 1.3061
Daily Pivot Point S1 1.3051
Daily Pivot Point S2 1.2925
Daily Pivot Point S3 1.2861
Daily Pivot Point R1 1.324
Daily Pivot Point R2 1.3304
Daily Pivot Point R3 1.343
Levels
Previous Daily High 1.3178
Previous Daily Low 1.2988
Previous Weekly High 1.3178
Previous Weekly Low 1.2904
Previous Monthly High 1.3196
Previous Monthly Low 1.2865
Daily Fibonacci 38.2% 1.3106
Daily Fibonacci 61.8% 1.3061
Daily Pivot Point S1 1.3051
Daily Pivot Point S2 1.2925
Daily Pivot Point S3 1.2861
Daily Pivot Point R1 1.324
Daily Pivot Point R2 1.3304
Daily Pivot Point R3 1.343
Levels Levels Levels Previous Daily High 1.3178 Previous Daily Low 1.2988 Previous Weekly High 1.3178 Previous Weekly Low 1.2904 Previous Monthly High 1.3196 Previous Monthly Low 1.2865 Daily Fibonacci 38.2% 1.3106 Daily Fibonacci 61.8% 1.3061 Daily Pivot Point S1 1.3051 Daily Pivot Point S2 1.2925 Daily Pivot Point S3 1.2861 Daily Pivot Point R1 1.324 Daily Pivot Point R2 1.3304 Daily Pivot Point R3 1.343 Previous Daily High 1.3178 Previous Daily High1.31781.3178 Previous Daily Low 1.2988 Previous Daily Low1.29881.2988 Previous Weekly High 1.3178 Previous Weekly High1.31781.3178 Previous Weekly Low 1.2904 Previous Weekly Low1.29041.2904 Previous Monthly High 1.3196 Previous Monthly High1.31961.3196 Previous Monthly Low 1.2865 Previous Monthly Low1.28651.2865 Daily Fibonacci 38.2% 1.3106 Daily Fibonacci 38.2%1.31061.3106 Daily Fibonacci 61.8% 1.3061 Daily Fibonacci 61.8%1.30611.3061 Daily Pivot Point S1 1.3051 Daily Pivot Point S11.30511.3051 Daily Pivot Point S2 1.2925 Daily Pivot Point S21.29251.2925 Daily Pivot Point S3 1.2861 Daily Pivot Point S31.28611.2861 Daily Pivot Point R1 1.324 Daily Pivot Point R11.3241.324 Daily Pivot Point R2 1.3304 Daily Pivot Point R21.33041.3304 Daily Pivot Point R3 1.343 Daily Pivot Point R31.3431.343