GBP/USD tumbles to the mid-1.2800s, new yearly lows. Increasing USD-buying keeps the pair under downside pressure. UK CBI Industrial Trends Orders came in at -18 in February. The increasing (and persistent) buying pressure around the greenback is putting its rivals under further downside pressure on Thursday, forcing GBP/USD to shed further ground and prints new YTD lows in the 1.2850/45 band. GBP/USD in multi-month lows Cable is trading in levels last seen in November 2019 near 1.2850 in response to investors’ increasing preference for the greenback, which has so far lifted the US Dollar Index (DXY) to fresh peaks in the area just shy of the 100.00 psychological mark. The quid has managed to attempt a bull run to the mid-1.2900s earlier in the session after January’s results from the UK’s high street showed headline Retail Sales expanded 0.9% MoM and core sales rose at a monthly 1.6%. Also adding to the upbeat UK docket, the CBI Industrial Trends Orders improved to -18 for the current month (from January’s -22 and -19 forecasted). However, as said, the solid momentum in the greenback is enough to keep the risk-associated space under heavy downside pressure, offsetting any strength coming in from the data universe. Later in the NA session, the Philly Fed manufacturing index will be in centre stage seconded by weekly Claims and the EIA’s report on US crude oil inventories. GBP/USD levels to consider As of writing, the pair is retreating 0.44% at 1.2858 and a breakdown of 1.2849 (2020 low Feb.20) would expose 1.2768 (monthly low Nov.8 2019) and finally 1.2688 (200-day SMA). On the upside, initial hurdle emerges at 1.3061 (55-day SMA) seconded by 1.3069 (weekly high Feb.13) and then 1.3183 (monthly high Feb.3). 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 EUR/GBP climbs to 1-week tops, eyeing a move beyond 0.8400 mark FX Street 2 years GBP/USD tumbles to the mid-1.2800s, new yearly lows. Increasing USD-buying keeps the pair under downside pressure. UK CBI Industrial Trends Orders came in at -18 in February. The increasing (and persistent) buying pressure around the greenback is putting its rivals under further downside pressure on Thursday, forcing GBP/USD to shed further ground and prints new YTD lows in the 1.2850/45 band. GBP/USD in multi-month lows Cable is trading in levels last seen in November 2019 near 1.2850 in response to investors’ increasing preference for the greenback, which has so far lifted the US Dollar Index (DXY) to fresh peaks in… 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.