Pound under pressure across the board adds to losses. GBP/USD corrects lower after rising during three consecutive trading days. The GBP/USD pair dropped further during the American session amid a stronger US dollar and as the pound remains under pressure. The pair bottomed at 1.3559, hitting the lowest since last Wednesday. Earlier on Monday, cable reached levels above 1.3700 for the first time since April 2018 before reversing its intraday trend. The sharp decline from the top was triggered by a slide of the pound amid expectations of new restrictions in the UK. The government will deliver a statement on the subject. The increase in COVID-19 cases and the new strain offset the developments related to the Oxford/AstraZeneca vaccine. Simultaneously, the US dollar recovered strength, and equity prices in Wall Street turned to the downside. As of writing, the Dow Jones falls by 1.60% and the Nasdaq by 1.25%. The reversal boosted the greenback that trimmed losses across the board. From a technical perspective, the trend in GBP/USD still points to the upside, but the momentum eased. A consolidation below 1.3600 would favor an extension of the correction. Support levels are seen at 1.3550/55, followed by 1.3505 and 1.3425/30 (last week’s low). Technical 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 Coronavirus update UK: 58,784 new cases confirmed on Monday FX Street 1 year Pound under pressure across the board adds to losses. GBP/USD corrects lower after rising during three consecutive trading days. The GBP/USD pair dropped further during the American session amid a stronger US dollar and as the pound remains under pressure. The pair bottomed at 1.3559, hitting the lowest since last Wednesday. Earlier on Monday, cable reached levels above 1.3700 for the first time since April 2018 before reversing its intraday trend. The sharp decline from the top was triggered by a slide of the pound amid expectations of new restrictions in the UK. The government will deliver a statement on… 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.