- DXY turned negative, falling to six-day lows.
- GBP / USD continues to move in a range, near the upper limit of the range.
The GBP/USD it bounced higher after the start of the US session and rose to 1.3749, reaching the highest level in a week. It remains close to the highs, supported by a weaker US dollar across the board.
The dollar index USD was recovering from Friday’s slide and turned negative, falling to 90.89, a six-day low. During the US session, the appetite for risk and the departure from the highs of US bond yields weakened the dollar.
On Wall Street, stock indices hit record highs. The Dow Jones was up 0.40% and the Nasdaq was up 0.57%. Stock prices are on track for the sixth consecutive daily gain supported by economic expectations, vaccines, stimulus hopes and corporate results.
GBP / USD remains in range
The pound’s rebound was capped below recent highs and the upper limit of the trading range near 1.3760. The mentioned level continues to be a key resistance which, if broken, could clear the way for 1.3800. On the other hand, 1.3600 is again a support level to consider. A consolidation below would suggest more weakness in the future.
Technical levels
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