The British Pound lost some ground against the Greenback on Wednesday as traders await minutes of the Federal Reserve’s last meeting and US inflation data on Thursday.
GBP/USD consolidates within the 1.3060-1.3140 range, with sellers maintaining control after last week's US jobs report boosted the Greenback. The pair is downward biased after falling below the 50-DMA, with key support at the September 11 low of 1.3001 and the 100-DMA at 1.2935. A break above 1.3100 could signal a reversal, with resistance at 1.3200, followed by the October 3 peak of 1.3269. At the time of writing, the GBP/USD trades at 1.3070, below its opening price by 0.26%.
2935 would be up for grabs, followed by the 200-DMA at 1.2784. Conversely, if GBP/USD reclaims 1.3100 and rallies above 1.3200, it would open the door for further upside. The next resistance would be October 3 peak at 1.3269, followed by theOctober 2 high at 1.3305. GBP/USD Price Action – Daily Chart British Pound PRICE Today The table below shows the percentage change of British Pound against listed major currencies today. British Pound was the strongest against the New Zealand Dollar.
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