“¢ Fails to capitalize on early gains despite the ongoing USD retracement. “¢ Brexit uncertainty/dovish BoE outlook keeps a lid on any strong up-move. “¢ Traders now eye ADP report and US Q1 GDP print for some fresh impetus. The GBP/USD pair stalled its recovery move ahead of the 1.3300 handle and quickly retreated around 30-35 pips from session tops. A sharp US Dollar retracement slide, despite a goodish pickup in the US Treasury bond yields, helped the pair to build on overnight rebound from the lowest level since Nov. 28 amid near-term oversold conditions. However, persistent uncertainty surrounding impending Brexit talks, against the backdrop of recent dovish BoE tilt, held investors back from placing aggressive bets and eventually kept a lid on any strong up-move. In absence of any market moving economic releases from the UK, the USD price dynamics is turning out to be an exclusive driver of the pair’s momentum through the early European session. Moving ahead, today’s US economic docket, featuring the release of ADP report on private sector employment and the second estimate of Q1 GDP growth figures will now be looked upon to grab some short-term trading opportunities. Technical levels to watch Renewed weakness back below the 1.3250-40 region might turn the pair vulnerable to slide back towards challenging the 1.3200 round figure mark. On the upside, the 1.3290-1.3300 area might continue to act as an immediate resistance, above which a fresh bout of short-covering could lift the pair further towards 1.3375-80 supply zone en-route the 1.3400 handle. 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 Eurozone: Marginal dip in economic sentiment – ING FX Street 5 years "¢ Fails to capitalize on early gains despite the ongoing USD retracement. "¢ Brexit uncertainty/dovish BoE outlook keeps a lid on any strong up-move. "¢ Traders now eye ADP report and US Q1 GDP print for some fresh impetus. The GBP/USD pair stalled its recovery move ahead of the 1.3300 handle and quickly retreated around 30-35 pips from session tops. A sharp US Dollar retracement slide, despite a goodish pickup in the US Treasury bond yields, helped the pair to build on overnight rebound from the lowest level since Nov. 28 amid… 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.
