Pound among worst performers on Monday, unable to find support. GBP/USD down more than 200 pips from Friday’s peak. The GBP/USD pair dropped further during the American session on the back of a stronger US dollar. The pair bottomed at 1.3001 and remains near the lows, with the bearish tone intact. A weaker GBP, plus a stronger DXY On European hours, the slide of the pound drove the GBP/USD pair to the downside. It weakened after a big rally on Thursday and Friday following the Bank of England meeting. Concerns about the trade negotiations between the European Union and the United Kingdom, expected to begin in March, accelerated the bearish correction. More recently the latest leg lower took place as the pound remains unable to find support and following the released of better-than-expected US economic data. The ISM manufacturing index jumped to 50.9 from 47.8 in December, the highest level since July. The DXY has erased most of Friday’s losses. It is up by 0.45%, trading back above 97.80. US yields are also higher on Monday but off highs. In Wall Street, equity prices are up, recovering partially from Friday’s sell-off. The Dow Jones gains 0.95% and the Nasdaq climbs 1.45%. More levels 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 USD/CAD Price Analysis: Greenback trading at its highest since early December vs. CAD FX Street 2 years Pound among worst performers on Monday, unable to find support. GBP/USD down more than 200 pips from Friday’s peak. The GBP/USD pair dropped further during the American session on the back of a stronger US dollar. The pair bottomed at 1.3001 and remains near the lows, with the bearish tone intact. A weaker GBP, plus a stronger DXY On European hours, the slide of the pound drove the GBP/USD pair to the downside. It weakened after a big rally on Thursday and Friday following the Bank of England meeting. Concerns about the trade negotiations between the European Union and 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.
