{"id":106889,"date":"2020-11-26T18:47:23","date_gmt":"2020-11-26T18:47:23","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106889"},"modified":"2020-11-26T18:47:23","modified_gmt":"2020-11-26T18:47:23","slug":"104910-gbp-usd-tumbles-back-from-1-34-monthly-high-looks-to-1-33-support","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104910-gbp-usd-tumbles-back-from-1-34-monthly-high-looks-to-1-33-support\/","title":{"rendered":"GBP\/USD tumbles back from 1.34 monthly high, looks to 1.33 support"},"content":{"rendered":"<ul>\n<li><strong>GBP\/USD has trended lower recently after failing to break above $1.34.<\/strong><\/li>\n<li><strong>Optimism that a Brexit trade deal will be achieved is keeping the pair broadly underpinned.<\/strong><\/li>\n<li><strong>Bulls are reluctant to push beyond 1.3400 in absence of further progress in talks<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">GBP\/USD struck a wall at 1.3400before sellers drove the pair back to a low of 1.3320 in the European session. GBP was amongst the worst performers t of the G10 currencies on the day (with only NOK and SEK doing worse). .<\/span><\/p>\n<p><span style=\"font-weight: 400;\">GBP\/USD price movement suggests bulls not ready to push beyond 1.3400 without progress in Brexit talks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even so, GBP\/USD remains significantly up from the monthly low of 1.2850 set on 2 November. Although this is mainly a US Dollar weakness story following US President-elect Biden\u2019s victory in early November and vaccine optimism along with an increasingly dovish sounding FOMC who are expected to tweak their bond buying programme in December. Fiscal stimulus from Congress also remains elusive.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0GBP has also significantly outperformed the EUR and CAD (GBP\/USD gained 3% on the month to CAD\/USD\u2019s 2.3% and EUR\/USD\u2019s 2.2% rise respectively). As growing optimism of a Brexit deal boosted the pair higher. Initially it was hoped that this week the deal would be finalised, but headlines have so far been far from upbeat.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sterling traders appear to have shrugged off the downbeat headlines explaining why cable still trades over 1.3300. . Until evidence of a deal emerges, GBP\/USD is likely to continue to feel uncomfortable close\u00a0 to 1.3400.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/USD has trended lower recently after failing to break above $1.34. Optimism that a Brexit trade deal will be achieved is keeping the pair broadly underpinned. Bulls are reluctant to push beyond 1.3400 in absence of further progress in talks GBP\/USD struck a wall at 1.3400before sellers drove the pair back to a low of [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5970,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[],"class_list":["post-106889","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD tumbles back from 1.34 monthly high, looks to 1.33 support - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104910-gbp-usd-tumbles-back-from-1-34-monthly-high-looks-to-1-33-support\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104910-gbp-usd-tumbles-back-from-1-34-monthly-high-looks-to-1-33-support\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104910-gbp-usd-tumbles-back-from-1-34-monthly-high-looks-to-1-33-support\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD tumbles back from 1.34 monthly high, looks to 1.33 support\",\"datePublished\":\"2020-11-26T18:47:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104910-gbp-usd-tumbles-back-from-1-34-monthly-high-looks-to-1-33-support\\\/\"},\"wordCount\":258,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104910-gbp-usd-tumbles-back-from-1-34-monthly-high-looks-to-1-33-support\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2017\\\/08\\\/pounds-brexit.jpg\",\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104910-gbp-usd-tumbles-back-from-1-34-monthly-high-looks-to-1-33-support\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104910-gbp-usd-tumbles-back-from-1-34-monthly-high-looks-to-1-33-support\\\/\",\"name\":\"GBP\\\/USD tumbles back from 1.34 monthly high, looks to 1.33 support - 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