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  • The British Pound is feeling the pull of gravity on Telegraph report.
  • The GBP/USD is back below 1.30, having hit a high of 1.3023 earlier today.

The British Pound is witnessing a solid two-way business in Asia.

The currency pair found bids in early Asian in response to a Sunday Times report stating that Prime Minister May has planned an all-UK customs deal with the EU, which would resolve the Irish border issue.

The optimism, however, was short-lived as May’s office dismissed that report as speculation. Further, the Telegraph reported that British Brexit Secretary Dominic Raab on Tuesday privately demanded the right to pull Britain out of a “backstop” arrangement for the Irish border after three months. That pitch may not be acceptable to the European Union.

These conflicting reports are complicating matters for the GBP traders. At press time, the currency pair is trading at 1.2990, having clocked a high and low of 1.3023 and 1.2986, respectively.

The psychological level of 1.30 has been put to test since Thursday, but a convincing close above that level has so far remained elusive.

GBP/USD Technical Levels


       Last Price:  1.2992
       Daily change:  24  pips
       Daily change:  0.185%
       Daily Open:  1.2968
       Daily SMA20:  1.3003
       Daily SMA50:  1.3021
       Daily SMA100:  1.3042
       Daily SMA200:  1.343
       Daily High:  1.3042
       Daily Low:  1.2952
       Weekly High:  1.3042
       Weekly Low:  1.2696
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.2986
       Daily Fibonacci 61.8%:  1.3008
       Daily Pivot Point S1:  1.2932
       Daily Pivot Point S2:  1.2896
       Daily Pivot Point S3:  1.2841
       Daily Pivot Point R1:  1.3023
       Daily Pivot Point R2:  1.3078
       Daily Pivot Point R3:  1.3114