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
Today Last Price: 1.2656
Today Daily change: -15 pips
Today Daily change %: -0.118%
Today Daily Open: 1.2671
Previous Daily SMA20: 1.2752
Previous Daily SMA50: 1.2907
Previous Daily SMA100: 1.2941
Previous Daily SMA200: 1.3269
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