FX.co ★ Death-X-PK | GBP/USD

GBPUSD Fundamental and M-15 Time Frame Update As Congress scrambles to approve the budget bill by Friday to prevent a partial shutdown of the US government, Democrats and the White House have agreed to temporarily fund the Department of Homeland Security. This helps pull the USD Index (DXY), which measures the US dollar against a basket of other currencies, farther away from Tuesday's four-year low. Despite the recovery, the USD is still expected to record its second consecutive week of losses due to policy and economic uncertainties stemming from US President Donald Trump's capricious actions and criticism of the independence of the Federal Reserve (Fed). On Thursday, Trump declared his intention to decertify any aircraft manufactured in Canada, accusing the country of unjustly preventing Gulfstream business jets from being certified. Concerns about a full-fledged trade war between the two North American nations amid the growing prospect of a military confrontation with Iran have been heightened by Trump's vow to slap a 50% tariff on all aircraft sold from Canada into the US unless American-made Gulfstream jets obtain certification in Canada. Furthermore, according to the White House, Trump signed an executive order imposing taxes on nations that supply Cuba with crude oil. The GBP/USD pair maintains a little positive bias as the 100-hour Simple Moving Average (SMA) climbs higher. At 1.3759, the SMA provides close-by dynamic support. With a slight negative histogram that indicates waning momentum, the Moving Average Convergence Divergence (MACD) line is located close to the zero level, behind the Signal line. The 23.6% Fibonacci retracement level at 1.3747 provides early support and, if held above, might maintain the intraday tone supported. It is measured from the 1.3344 low to the 1.3871 high. The price consolidates just above the rising 100-period SMA, which supports the structure. The next support level for pullbacks is the 38.2% retracement at 1.3670; a breach below it would signal a more serious correction within the larger upswing.