- The pound clings to gains, but loses momentum.
- GBP / USD moves away from the highs but remains firm above 1.3700.
GBP / USD climbed hours back to 1.3745, reached the highest level since April 2018. It then undertook a pullback, finding support above 1.3700. It is trading at 1.3720, holding on to the gains for the day.
The pound is also up against the euro and the Swiss franc, although it has trimmed gains in recent hours. The GBP / USD support above 1.37000 is expected to be a support for more rises in the cross, while a retracement below, would point to a possible downward correction.
The weakness of the dollar continues to be the key factor for the rise of the pair. He Dollar index (DXY) it is at a minimum in a week, at 90.10, losing 0.40%. Optimism in the markets puts downward pressure on the greenback.
In minutes the report of Weekly US Unemployment Benefit Claims | and then the housing start data and the Philly Fed. In addition, traders will closely follow the first moves of President Biden.
Technical levels
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