- Brexit extension having no impact on GBP.
- US Dollar momentum eases during the American session.
- Cable steady in a range below 1.3100, modestly lower for the day.
The GBP/USD continues to move in a range above 1.3060 and limited by the 1.3100 zone, posting a modest loss for the day.
Not much change after Brexit, FOCM minutes and data
Cable approached daily lows after the release of US economic data that showed higher-than-expected PPI numbers for March and a decline in jobless claims to the lowest since 1969. The greenback the lost some momentum across the board and GBP/USD climbed to 1.3094.
As of writing the pair is trading at 1.3075, now pointing toward the daily low that stands at 1.3057, but still in the range. The pair continues to move sideways as it has been the case since the beginning of the week, unaffected by recent Brexit development, FOMC minutes and US data.
Short-term technical levels to watch
To the upside the area around 1.3100 has become a critical level: a break higher would expose 1.3120 (Apr 8 & 9 high). Above the next resistance might be seen at 1.3150. On the flip side, support lies at 1.3055, followed by 1.3025 and 1.3000.
More levels
Share
