“¢ USD bulls take some breather and prompt some short-covering bounce. “¢ Brexit uncertainty keeps a lid on any meaningful recovery for the pair. The GBP/USD pair found decent support near the 1.3200 handle and bounced nearly 70-pips from six-month lows touched earlier. The US Dollar took some breather following today’s strong upsurge to the 95.00 neighborhood, or fresh yearly tops, and was seen as one of the key factors that prompted some short-covering amid near-term oversold conditions. The rebound, however, was not backed by any obvious fundamental catalyst and hence, lacked any strong follow-through, with uncertainty around Brexit negotiations further collaborating towards keeping a lid on any meaningful recovery. The pair has now retreated back to mid-1.3200s as traders now look forward to the release of Conference Board’s consumer confidence index, the only highlight from today’s thin US economic docket, for some fresh impetus. Technical levels to watch Weakness back below 1.3230 level might continue to find support near the 1.3200 handle, which if broken should pave the way for an extension of the pair’s bearish trajectory. On the upside, recovery attempts beyond 1.3275-80 immediate hurdle might now confront fresh supply near the 1.3300 handle, above which a bout of short-covering could lift the pair further towards 1.3340 supply zone. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK: Economy still weak? – RBS FX Street 5 years "¢ USD bulls take some breather and prompt some short-covering bounce. "¢ Brexit uncertainty keeps a lid on any meaningful recovery for the pair. The GBP/USD pair found decent support near the 1.3200 handle and bounced nearly 70-pips from six-month lows touched earlier. The US Dollar took some breather following today's strong upsurge to the 95.00 neighborhood, or fresh yearly tops, and was seen as one of the key factors that prompted some short-covering amid near-term oversold conditions. The rebound, however, was not backed by any obvious fundamental catalyst and hence, lacked any strong follow-through,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
