The Pound Sterling creeps lower against the US Dollar on Tuesday, amid a scarce economic docket in the UK following the release of mixed data in the United States.
GBP/USD trades below 1.2700 after hitting a two-day high of 1.2720. Resistance at a broken support trendline could lead to further price drops. Key support levels: 1.2656 and 1.2643/34 . At the time of writing, the GBP/USD trades at 1.2688, down 0.12%. GBP/USD Price Analysis: Technical outlook Following a dip to a multi-week low of 1.2656, the GBP/USD has shown signs of resilience, managing to regain some ground.
Once cleared, the next stop would be the 100-day moving average confluence and the May 3 high at 1.2643/34, ahead of 1.2600. Conversely, if GBP/USD climbs past 1.2720/30, that could exacerbate a rally toward 1.2800. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2689 Today Daily Change -0.0016 Today Daily Change % -0.13 Today daily open 1.2705 Trends Daily SMA20 1.2743 Daily SMA50 1.2614 Daily SMA100 1.264 Daily SMA200 1.2552 Levels Previous Daily High 1.
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