GBP/USD flirting with session lows near 1.3250

The Sterling keeps losing its shine on Tuesday and is now dragging GBP/USD to the area of fresh lows in the 1.3250/40 band.

GBP/USD attention to PMI, USD

Cable is extending its decline for the third session in a row today, as the upside pressure around the greenback remains unabated. In fact, the US Dollar Index (DXY) is trading in the vicinity of the key up barrier at 94.00 the figure, levels last seen in July.

In addition, there seems to be no significant progress in the ongoing Brexit talks, adding to the uncertainty surrounding UK politics and weighing further on the British Pound.

Data wise across the Channel, September’s construction PMI is only due, while the speech by FOMC’s J.Powell is only expected in the NA trading hours.

GBP/USD levels to consider

As of writing the pair is losing 0.20% at 1.3251 facing the next support at 1.3162 (low Sep.14) followed by 1.3123 (55-day sma) and then 1.3017 (38.2% Fibo of the 2017 up move). On the upside, a break above 1.3346 (21-day sma) would open the door to 1.3424 (high Sep.26) and finally 1.3591 (2014-2017 downtrend).