Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

The pound continues to struggle to get off the floor

A.R Chowdhury by A.R Chowdhury
September 11, 2020
Reading Time: 1 min read
0
The pound continues to struggle to get off the floor

Cable is lingering at session lows just below 1.2800 currently

GBP/USD is down to a session low of 1.2785 as the pound is struggling to for respite amid the ongoing Brexit uncertainty seen throughout the week.

The pair is sitting lower despite the fact that the dollar is seen weaker for the most part against other major currencies, barring the Japanese yen.

GBP/USD D1 11-09

The drop yesterday took out the 50.0 retracement level @ 1.2867 and that is shifting the downside focus towards the 200-day MA (blue line) @ 1.2737 currently.

That alongside the 100-day MA (red line) @ 1.2694 (and 61.8 retracement level @ 1.2722) will be the key focus areas in case the downside momentum extends. A break below that will see sellers build even more pressure in search for a move towards 1.2500 next.

On the week, the pound has been the runaway underperformer as it is down by 3.7% against the dollar. The next weakest currency has been the Canadian dollar, which has been weighed down by slumping oil prices, and the loonie is “only” down 0.9%.

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post
EUR/USD sets its sight on 1.1900 again as buyers seize near-term control

EUR/USD sets its sight on 1.1900 again as buyers seize near-term control

AUD/JPY shows the week wasn’t all it was made out to be

AUD/JPY shows the week wasn't all it was made out to be

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

S&P and Dow turn negative. NASDAQ remains positive on the day.

July 9, 2020

USDCAD moves to a new high and closer to topside MA.

June 17, 2020

GBPUSD tries to hang above 200 hour MA

June 23, 2020

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • What is Leverage AND Margin in Forex trading?

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.