A rebound in the dollar faltered on Tuesday as political wrangling over a U.S. relief plan and the gloomy economic outlook kept investors shy of the currency. After its worst month in a decade in July the greenback started August on a firm note as some investors trimmed their short positions, pushing the currency as high as $1.1695 per euro on Monday - GBP 1.3004, 1.8% above last week's two-year low.
After 5 days of Overbought status with 81% on RSI, today the GBPUSD did start its Retracement from 1.3170 till 1.3004. Second level shall be 1.3000. When broken ⇒ 1.2930.