GBP/USD pound's struggles to break above 1.3400GBPUSD has erased last week’s gains, which barely touched the 1.3500 level, bringing its 2021 low of 1.3352 back into scope.
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GBP/USD dropsRenewed talk of Bank of England (BoE) rate hikes has done nothing to lift GBP/USD, as the pair heads back to the lows of mid-month.
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Support At 1.3375 In SightGBP/USD is currently moving towards the support level at 1.3375 while the U.S. dollar is gaining some ground against a broad basket of currencies.
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GBP/USD holds onto corrective pullback from yearly lowGBP/USD bounces off intraday low to extend the previous day’s U-turn from the 2021 bottom, around 1.3380 during Wednesday’s Asian session.
Will the GBP/USD price retreat reverse?The technical analysis of the GBPUSD price chart on a 1-hour timeframe shows GBPUSD: H1 failed to breach the resistance line under the 200-period moving average
GBP/USD reached a new year-to-date low at1.3342 though bounced off towards 1.3370sDuring the New York session, the British pound grinds lower, barely down 0.05%, trading at 1.3384 at press time.