Pound/Dollar Price News: GBP/USD recovery attempt faces significant resistance

Yohay Elam FXStreet

Pound/Dollar: Cable is suffering amid strengthening dollar and election uncertainty [Video]

Cable suffered on Friday amid a strengthening dollar and election uncertainty for sterling. A strong negative candle saw another retreat back to the 23.6% Fib level (of the October rally $1.2193/$1.3012) at $1.2820. Read more...

GBP/USD refreshes session tops, inching back closer to 1.2900 handle

The buying interest around the British pound picked up some additional pace in the past hours and lifted the Pound/Dollar pair to fresh session tops, around the 1.2875-80 region.

The pair caught some fresh bids on the first day of a new trading week and recovered a major part of the previous session's downfall to over one-week lows, triggered by the dismal UK flash PMI prints for November and resurgent US dollar demand. Read more...

GBP/USD

Overview
Today last price	1.2879
Today Daily Change	0.0042
Today Daily Change %	0.33
Today daily open	1.2837

Trends
Daily SMA20	1.2881
Daily SMA50	1.2675
Daily SMA100	1.2478
Daily SMA200	1.2704

Levels
Previous Daily High	1.2929
Previous Daily Low	1.2821
Previous Weekly High	1.2986
Previous Weekly Low	1.2821
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2862
Daily Fibonacci 61.8%	1.2888
Daily Pivot Point S1	1.2795
Daily Pivot Point S2	1.2754
Daily Pivot Point S3	1.2687
Daily Pivot Point R1	1.2903
Daily Pivot Point R2	1.297
Daily Pivot Point R3	1.3012

Pound/Dollar recovery attempt faces significant resistance — Confluence Detector

Pound/Dollar has been moving marginally higher as Prime Minister Boris Johnson's Conservative Party has gained ground in the polls. Can cable extend its gains? It may struggle.

The Technical Confluences Indicator is showing that fierce resistance is waiting at 1.2887, which is the convergence of the Simple Moving Average 100-4h, the Fibonacci 38.2% one-week, the Fibonacci 61.8% one-day, the Bollinger Band 1h-Upper, and the BB one-day Middle. Read more...

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.