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GBP/USD re-attempts 1.2675 amid no-deal Brexit jitters

  • No vote on UK PM May’s Brexit deal news negates the euphoria around May’s confidence vote win.
  • But downside appears capped as the US equity futures turn positive; risk-on back in vogue?

The GBP/USD pair is seen moving back and forth in a 20-pips narrow range last hours, having failed to sustain the bounce to 1.2685 region, as the sellers returned along with fresh concerns over a no-deal Brexit after the UK Parliament Leader Leadsom set out the parliament schedule that showed a no Brexit deal vote before Christmas.

The spot jumped to 1.2686 highs on the European open, as the EUR traders reacted positively to the news of the UK PM May’s confidence vote win. But the euphoria soon faded as the market sentiment soured amid renewed Brexit jitters and increased nervousness ahead of the meeting between the UK PM May and EU’s Juncker in Brussels scheduled later today.

However, the spot manages to find some bids near the 1.2650 region, as the risk appetite is seen returning amid an upturn in the US equity futures that usually favors the risk currency, the GBP.

The immediate focus remains on the sentiment on the US open for fresh trading impetus, as the Brexit headlines will remain the main driver for the GBP markets.

GBP/USD Technical Levels

GBP/USD

Overview:
    Today Last Price: 1.2656
    Today Daily change: -15 pips
    Today Daily change %: -0.118%
    Today Daily Open: 1.2671
Trends:
    Previous Daily SMA20: 1.2752
    Previous Daily SMA50: 1.2907
    Previous Daily SMA100: 1.2941
    Previous Daily SMA200: 1.3269
Levels:
    Previous Daily High: 1.2672
    Previous Daily Low: 1.2477
    Previous Weekly High: 1.284
    Previous Weekly Low: 1.2659
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2598
    Previous Daily Fibonacci 61.8%: 1.2551
    Previous Daily Pivot Point S1: 1.2541
    Previous Daily Pivot Point S2: 1.2411
    Previous Daily Pivot Point S3: 1.2346
    Previous Daily Pivot Point R1: 1.2736
    Previous Daily Pivot Point R2: 1.2802
    Previous Daily Pivot Point R3: 1.2932

 

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