GBP/USD looks to end the day below 1.32 for the first time this year. US Dollar Index fails to break above 95. Risk appetite remains weak on Tuesday. The GBP/USD pair slumped to its worst level since November of 2017 at 1.3150 in the early NA session and went into a consolidation phase. As of writing, the pair was trading at 1.3165, losing 0.6%, or 80 pips, on the day. The USD valuation remains as the main driver of the pair’s price action in the FX markets on Tuesday. After retracing a portion of last week’s gains on Monday, the US Dollar Index gathered momentum on Tuesday as the lack of fundamental catalysts allowed investors to stay focused on Fed’s monetary policy outlook. However, with the demand for the US T-bonds rising amid the risk-off environment, the yield on the 10-year reference lost nearly 2% and made it difficult for the greenback to preserve its strength. At the moment, the DXY is up 0.35% on the day at 94.75. Today’s data from the U.S. showed that the housing starts increased by 5% in May while building permits contracted by 4.6%. On the other hand, earlier today, a draft of the EU summit conclusion statement showed that EU leaders were concerned about the lack of progress regarding the Ireland border issue. There won’t be any other macroeconomic data releases in the remainder of the day, and the pair is unlikely to make a sharp move in either direction before closing the day. Technical outlook The pair could encounter the first technical support at 1.3135 (Nov. 16, 2017, low) before 1.3100 (psychological level) and 1.3040 (Nov. 3, 2017, low). On the upside, short-term resistances align at 1.3200 (psychological level), 1.3270 (daily high) and 1.3334 (20-DMA). 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 WTI tumbles to lows near $64.40 ahead of API FX Street 5 years GBP/USD looks to end the day below 1.32 for the first time this year. US Dollar Index fails to break above 95. Risk appetite remains weak on Tuesday. The GBP/USD pair slumped to its worst level since November of 2017 at 1.3150 in the early NA session and went into a consolidation phase. As of writing, the pair was trading at 1.3165, losing 0.6%, or 80 pips, on the day. The USD valuation remains as the main driver of the pair's price action in the FX markets on Tuesday. After retracing a portion of last week's gains on Monday, the… 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.