Pound underperforming during the American session. GBP/USD reverses from multi-year highs, erases daily gains. The GBP/USD dropped further during the American session and fell to 1.3626, almost a hundred pips below the two-year high it reached earlier on Wednesday at 1.3718. The pound failed to hold to gains and retreat sharply. During the last hours, the pound has fallen across the board with EUR/GBP making a big comeback, recovering the 0.8860 key support area. The currency remains under pressure. Hours ago, it was the best performer supported by risk appetite and higher-than-expected UK inflation data. The greenback is under pressure, particularly against commodity currencies. Wall Street is at record highs. The Dow Jones is up by 0.69% and the Nasdaq 1.70%, boosted by Q4 results. In the US, Joe Biden will take his oaths of office in a few minutes. He is expected later today so sign its first executive orders, undoing some policies from the Trump administration. From a technical perspective, GBP/USD failed again to hold above 1.37. The 1.3700/20 area has become a major barrier. A consolidation above would open the door to more gains. On the flip side, 1.3620 is the immediate support is seen followed by 1.3580. Technical levels 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 AUD/USD leaps to session tops near 0.7760 FX Street 2 years Pound underperforming during the American session. GBP/USD reverses from multi-year highs, erases daily gains. The GBP/USD dropped further during the American session and fell to 1.3626, almost a hundred pips below the two-year high it reached earlier on Wednesday at 1.3718. The pound failed to hold to gains and retreat sharply. During the last hours, the pound has fallen across the board with EUR/GBP making a big comeback, recovering the 0.8860 key support area. The currency remains under pressure. Hours ago, it was the best performer supported by risk appetite and higher-than-expected UK inflation data. The greenback is under pressure,… 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.
