GBPUSD moves into lower swing area as the market reverses earlier gains

The GBPUSD has moved to a new session low and in the process turned negative on the day. The price move below a upward sloping trendline near 1.3100, and looks to test a lower swing area between 1.3085 and 1.3092. The low price just reached 1.3088 and bounced modestly.

Although the USD has made a move higher in the NY session, the USD is still lower vs. the CAD (-0.22%) and NZD (-0.19%), hello and lower by -0.62% vs the AUD. However, those declines are still well off the highs for the day.

Below is the strongest to weakest of the major currencies currently.

Forex — The strongest weakest of the major currencies

Since the start of the US session, the greenback has seen the GBPUSD reverse earlier declines (from -0.14% to +0.14%). The USDJPY and the EURUSD has seen moves of 0.51% and 0.45% higher. The AUDUSD and the NZDUSD has moved from -1.22% to -0.62% and -0.84% vs -0.19% currently.