(VIANEWS) – When the Health Secretary catches Covid, it’s clear that something isn’t right. Sajid Javid is one of the most recent Britons to test positive for Coronavirus; around 50,000 cases being reported daily in the UK, with hundreds of thousands being asked to self-isolate.
However, isolations, high instances – and the potential of an outbreak of infections, hospitalizations, and deaths – are weighing hard on sterling, according to FXStreet.
GBP/USD (GBPUSD) is currently on bearish momentum. At 06:06 EST on Wednesday, 21 July, GBP/USD (GBPUSD) is at 1.3631, 1.82% down since the last session’s close.
GBP/USD (GBPUSD) Range
Concerning GBP/USD’s daily highs and lows, it’s 0.249% down from its trailing 30 days low of $1.37 and 2.42% down from its trailing 30 days high of $1.40.
GBP/USD’s yearly highs and lows, it’s 7.789% up from its 52-week low and 4.324% down from its 52-week high.
GBP/USD’s last week, last month’s, and last quarter’s current volatility was a negative 0.25%, a negative 0.14%, and a positive 0.47%, respectively.
GBP/USD’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 0.46% (last week), 0.44% (last month), and 0.47% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, GBP/USD’s Forex is considered to be overbought (>=80).
Last news about GBP/USD (GBPUSD)
Gbp/usd: break below support at 1.3734 exposes the 200-dma at 1.3697 – credit suisse. According to FXStreet on Monday, 19 July, “Below 1.3742/34, GBP/USD can resolve the range lower for a test of more important medium-term support seen starting at the 200-day average at 1.3697 and stretching down to 1.3669/48 – the April low and 38.2% retracement of the rally from last September.”
Gbp/usd tumbles to 1.3661, five-month low. According to FXStreet on Monday, 19 July, “The GBP/USD dropped further during the American session and bottomed at 1.3661, reaching the lowest intraday level since February. ”
Gbp/usd flirts with 1.3600 mark, lowest since February. According to FXStreet on Tuesday, 20 July, “The GBP/USD pair dropped to five-and-half-month lows during the mid-European session, with bears now awaiting sustained break below the 1.3600 round-figure mark.”, “Moreover, slightly oversold conditions on intraday charts might extend some support to the GBP/USD pair and help limit any further losses, at least for the time being.”
News about USD/JPY
Usd/jpy recovers modestly after dropping to multi-week lows near 109.00. According to FXStreet on Monday, 19 July, “Meanwhile, the benchmark 10-year US Treasury bond yield is losing more than 7%, making it difficult for USD/JPY to erase its losses.”
Usd/jpy trades with modest gains around mid-109.00s, upside seems limited. According to FXStreet on Tuesday, 20 July, “A goodish rebound in the US equity futures turned out to be a key factor that undermined demand for the safe-haven Japanese yen and extended some support to the USD/JPY pair. “, “Adding to this, diminishing odds for an imminent Fed action in the near future might act as a headwind for the greenback and collaborate to cap gains for the USD/JPY pair.”
Usd/jpy extends rebound, approaches 110.00 as US yields soar. According to FXStreet on Tuesday, 20 July, “The chart still shows the USD/JPY with a bearish bias but the rebound alleviated the pressure. ”
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