US dollar’s recovery from last week slide losses strength. GBP/USD trims losses as it rises back above 1.3050. The GBP/USD pair is falling for the second day in a row on Monday, pulling back after reaching on Friday at 1.3169, the highest level since March. Before the beginning of the American session, it bottomed at 1.3003, the lowest since Thursday. During the last hour, it trimmed losses and as of writing, it trades at 1.3050. The rebound in the pair took place as the US dollar lost strength. The greenback is still up across the board, extending the correction it started on Friday. Data from the US did not affect the greenback. The manufacturing sector continued to expand during July as the ISM and PMI Markit showed. Technical outlook The main trend is still bullish in GBP/USD but in the very short-term a correction is underway. The 1.3000 area capped the downside and is the immediate support below the next one stands at 1.2955 (July 28 high). The recovery will likely face resistance at 1.3070 (July 31 low) and above at 1.3100/05. If the pound keeps the 1.3100 area it would gain momentum, to test 1.3145, probably resuming the bullish trend. 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 ISM Manufacturing: Higher headline and stronger details to boot – Wells Fargo FX Street 3 years US dollar’s recovery from last week slide losses strength. GBP/USD trims losses as it rises back above 1.3050. The GBP/USD pair is falling for the second day in a row on Monday, pulling back after reaching on Friday at 1.3169, the highest level since March. Before the beginning of the American session, it bottomed at 1.3003, the lowest since Thursday. During the last hour, it trimmed losses and as of writing, it trades at 1.3050. The rebound in the pair took place as the US dollar lost strength. The greenback is still up across the board, extending the correction 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.
