Pound Sterling Price News and Forecast: Cable ready for next climb, with help from UK data, the Fed

FXStreet Team FXStreet

GBP/USD Forecast: Virus variant concerns and the American shopper may push cable below 1.40

GBP/USD has been attempting recovery as markets swing back to positive ground. The danger from variants to Britain's reopening and US consumption data could push the pair lower. Friday's four-hour chart is showing that 1.40 is a critical separator of ranges. Call off the reopening? Prime Minister Boris Johnson has come short of suggesting a reversal in policy but he has expressed concerns about the rapid spread of the Indian variant in the UK. Read more...

GBP/USD Weekly Forecast: Cable ready for next climb, with help from UK data, the Fed

Will the Fed be forced to tighten its policy prematurely? The raging debate has been shaking and eventually benefiting the dollar, especially after robust inflation figures, with more volatility expected in response to the bank's minutes. Sterling has received support from the UK reopening and GDP, with a long list of figures now due. Read more...

GBP/USD

Overview
Today last price	1.4098
Today Daily Change	0.0046
Today Daily Change %	0.33
Today daily open	1.4052

Trends
Daily SMA20	1.3942
Daily SMA50	1.3871
Daily SMA100	1.3809
Daily SMA200	1.347

Levels
Previous Daily High	1.4078
Previous Daily Low	1.4006
Previous Weekly High	1.4006
Previous Weekly Low	1.3801
Previous Monthly High	1.4009
Previous Monthly Low	1.3669
Daily Fibonacci 38.2%	1.4033
Daily Fibonacci 61.8%	1.405
Daily Pivot Point S1	1.4012
Daily Pivot Point S2	1.3973
Daily Pivot Point S3	1.394
Daily Pivot Point R1	1.4085
Daily Pivot Point R2	1.4118
Daily Pivot Point R3	1.4157

GBP/USD analysis: Finds support

The decline of the GBP/USD did not reach the support of the 200-hour simple moving average on Thursday. Instead, the rate found support in the 1.4005/1.4015 zone, which had provided both resistance and support on Monday. On Friday morning, the GBP/USD had recovered to the 1.4070 level, where it encountered the 55-hour simple moving average. The 55-hour SMA could provide resistance to the currency exchange rate. Read more...

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FXStreet Team

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