GBP/USD break below 1.3200, fresh lows

The selling pressure around the Sterling is now picking up extra pace, forcing GBP/USD to breach the critical support at 1.3200 the figure.

GBP/USD in 3-week lows

Cable met another wave of selling impetus today, as Brexit concerns and the persistent uncertainty in the UK politics keeps taking a toll on the sentiment surrounding GBP.

Auspicious results from UK’s services PMI in September published yesterday gave an ephemeral boost to the pair to the 1.3290 area, although the bullish attempt was quickly reverted.

Nothing expected data wise in the UK docket today, while all the attention should be on the US calendar, where initial claims are due later seconded by factory orders for the month of August. In addition, FOMC’s J.Powell, San Francisco Fed J.Williams (2018 voter, centrist), Philly Fed P.Harket (voter, hawkish) and KC Fed E.George (2019 voter, hawkish) are all due to speak.

GBP/USD levels to consider

As of writing the pair is retreating 0.36% at 1.3195 facing the immediate support at 1.3175 (low Oct.5) followed by 1.3162 (low Sep.14) and finally 1.3130 (55-day sma). On the other hand, a breakout of1.3292 (high Oct.4) would open the door to 1.3358 (10-day sma) and finally 1.3583 (2014-2017 downtrend).