The GBP/USD experienced a retreat early in the North American session, down by 0.23%.
GBP/USD snaps three days of gains, drops below 1.2800. The pair remains consolidated yet lacks the strength to rally towards the YTD high. Momentum favors sellers, but they must push GBP/USD below 1.2700. This was a continuation of a trend, as the major trades below 1.2800 at around 1.2769 were unable to achieve a daily close above 1.2800 for the ninth consecutive trading day.
Key support levels lie ahead, like the latest cycle low of 1.2687, the June 10 low. A breach of the latter will pave the way toward the confluence of the 100-day moving average and the May 16 low of 1.2643 before challenging the 50-DMA at 1.2610. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2771 Today Daily Change -0.0027 Today Daily Change % -0.21 Today daily open 1.2798 Trends Daily SMA20 1.274 Daily SMA50 1.2609 Daily SMA100 1.2639 Daily SMA200 1.
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