Investors looked past disappointing US durable goods orders data. The incoming UK political headlines exerted some heavy pressure. The GBP/USD pair witnessed some aggressive selling in the last hour and tumbled around 60-65 pips to refresh session lows, around the 1.2860 region in the last hour. The pair did get a minor lift during the early North-American session following the disappointing release of US durable goods orders data, albeit the uptick met with some fresh supply near the 1.2925 region amid a modest pickup in the US Dollar demand. Weighed down by risk of snap UK election Adding to this, rumours that the UK government will table an emergency business statement after political cabinet re-election motion on Monday further collaborated towards exerting some heavy downward pressure on the British Pound over the past hour or so. Despite the pullback, the pair has still managed to hold its neck above the overnight swing lows, which makes it prudent to wait for some strong follow-through selling before traders start positioning for any further near-term depreciating move below the 1.2800 round-figure mark. Technical levels to watch 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 GBP/USD technical analysis: Cable tumbles to daily lows, sub-1.2900 handle FX Street 3 years Investors looked past disappointing US durable goods orders data. The incoming UK political headlines exerted some heavy pressure. The GBP/USD pair witnessed some aggressive selling in the last hour and tumbled around 60-65 pips to refresh session lows, around the 1.2860 region in the last hour. The pair did get a minor lift during the early North-American session following the disappointing release of US durable goods orders data, albeit the uptick met with some fresh supply near the 1.2925 region amid a modest pickup in the US Dollar demand. Weighed down by risk of snap UK election Adding to… 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.
