The British Pound extended its losses for the second consecutive trading session against the US Dollar, following last Friday’s stellar jobs report from the US, which triggered the likelihood of a less dovish Federal Reserve.
GBP/USD slightly down for the second session in a row. Technicals indicate losing buyer momentum as RSI approaches the 50-midline. A drop below 1.2700 could push GBP/USD towards key moving averages near 1.2686 and potentially lower. Upside seen above 1.2750, with buyers eyeing 1.2800. That and uncertainty on the upcoming Fed’s meeting would keep Cable pressured. Therefore, the GBP/USD trades at 1.2713, down 0.01% GBP/USD Price Analysis: Technical outlook After struggling at around 1.
2750, it will be possible to challenge the June 7 high of 1.2813. Once cleared, the next resistance line will be 1.2850, followed by 1.2900. Conversely, if GBP/USD prints a daily close below 1.2700, that would sponsor a leg-down toward the confluence of the 100-day moving average at around 1.2686, ahead of the 50 and 200-DMAs each at 1.2602 and 1.2543, respectively. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2718 Today Daily Change -0.0002 Today Daily Change % -0.
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