Pound Sterling Price News and Forecast: GBP/USD slips below 1.3500 mark
|GBP/USD Forecast: Pound tests key 1.3500 support, pressured by risk aversion
GBP/USD has faced renewed bearish pressure after closing the previous week in positive territory with safe-haven flows dominating the financial markets. The pair was last seen testing 1.3500 and the bearish pressure could ramp up in case that level turns into resistance.
Reports claiming that Russia could invade Ukraine this week are causing investors to seek refuge at the beginning of the week. In turn, the UK's FTSE 100 Index is down 2.2% in the early European session and US stocks futures are falling between 0.9% and 1.4%. Read more...
GBP/USD slips below 1.3500 mark, one-week low amid the global flight to safety
The GBP/USD pair dropped to a one-week low during the first half of the European session, with bears now looking to extend the downfall further below the key 1.3500 psychological mark.
Following an early uptick to the 1.3570 area, the GBP/USD pair came under renewed selling pressure on Monday and extended its recent pullback from the 1.3645 regions, or the monthly high touched last week. Tensions over the Northern Ireland protocol of the Brexit agreement, along with Friday's disappointing UK GDP report turned out to be a key factor that acted as a headwind for the British pound. This, along with, the emergence of fresh US dollar buying, exerted pressure on the major and contributed to the latest leg down. Read more...
GBP/USD: 1.3500 aligns as critical support
GBP/USD has declined toward 1.3500 pressured by risk aversion. The bearish pressure could ramp up in case that levels turn into resistance, FXStreet’s Eren Sengezer reports.
“1.3500 (psychological level, Fibonacci 50% retracement of the latest uptrend) aligns as critical support. If a four-hour candle closes below that level and uses it as resistance, the next bearish target is located at 1.3470 (Fibonacci 61.8% retracement) ahead of 1.3440 (static level).” Read more...
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