GBP/USD retreated further from weekly highs on the back of a stronger US dollar. Cable intraday tone turned bearish after being unable to hold on top of 1.3200. The GBP/USD pair dropped further amid a stronger US dollar across the board after the ECB meeting. DXY Futures rebounded from 2-week lows and climbed to 94.45, the highest level since Monday. Cable failed to hold on top of 1.3200 and extended the retreat from 1-week highs. Recently printed a fresh daily low at 1.3122 and it was hovering around 1.3145, down for the day and marginally higher from the level it closed on Friday. The recent slide took place amid a rally of the greenback and despite a move lower of the EUR/GBP pair. The technical outlook for the very short-term weakened significantly for the pound against the US dollar. In the US, economic data released today had little impact. The key report is due tomorrow: Q2 GDP. Regarding the UK, in a few minutes, Michel Barnier, European Commission Chief Negotiator for Article 50 Negotiations and Dominic Raab, UK Secretary for Brexit, will offer a press conference. GBP/USD Levels to watch To the downside, support levels might be seen at 1.3110, 1.3080 and 1.3045. On the flip side, resistance could be located at 1.3175, 1.3210/15 (Jul 26 high) and 1.3240. 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 US Pres Trump: Will impose large sanctions on Turkey for their long time detainment of Pastor Andrew Brunson FX Street 5 years GBP/USD retreated further from weekly highs on the back of a stronger US dollar. Cable intraday tone turned bearish after being unable to hold on top of 1.3200. The GBP/USD pair dropped further amid a stronger US dollar across the board after the ECB meeting. DXY Futures rebounded from 2-week lows and climbed to 94.45, the highest level since Monday. Cable failed to hold on top of 1.3200 and extended the retreat from 1-week highs. Recently printed a fresh daily low at 1.3122 and it was hovering around 1.3145, down for the day and marginally higher from the level it… 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.
