Pound Sterling Price News and Forecast: GBP/USD appreciates further and reaches session highs near 1.1400

FXStreet Team FXStreet

GBPUSD appreciates further and reaches session highs near 1.1400

The pound has continued appreciating during Friday’s US afternoon trading, buoyed by the broad-based USD weakness, to reach session highs at 1.1380. The pair has shrugged off the previous day’s negative pressure on Friday, to perform a shocking 1.9% daily rally after bouncing from the lower range of the 1.1100s to close the week a few pips shy of 1.1400. Read more...

GBP/USD

Overview
Today last price	1.1375
Today Daily Change	0.0211
Today Daily Change %	1.89
Today daily open	1.1164

Trends
Daily SMA20	1.131
Daily SMA50	1.1346
Daily SMA100	1.1703
Daily SMA200	1.2325

Levels
Previous Daily High	1.1422
Previous Daily Low	1.1152
Previous Weekly High	1.1646
Previous Weekly Low	1.1258
Previous Monthly High	1.1646
Previous Monthly Low	1.0924
Daily Fibonacci 38.2%	1.1255
Daily Fibonacci 61.8%	1.1319
Daily Pivot Point S1	1.107
Daily Pivot Point S2	1.0975
Daily Pivot Point S3	1.0799
Daily Pivot Point R1	1.134
Daily Pivot Point R2	1.1517
Daily Pivot Point R3	1.1611

GBPUSD Weekly Forecast: Risks skewed to the downside in US inflation week

The relief rally in the GBPUSD pair was shortlived, as the monetary policy divergence between the US Federal Reserve (Fed) and the Bank of England (BoE) overshadowed the renewed UK political calm. The pair booked the first weekly loss in four amid resurgent demand for the US Dollar (USD) and US Treasury yields. What’s next for the Pound Sterling (GBP) and the USD, as attention turns towards the United States mid-term Congressional elections and the critical Consumer Price Index (CPI) data in the week ahead. Read more...

GBPUSD outlook: Bears take a breather ahead of US job report

Cable edges higher in early Friday as traders collect profits after bearish acceleration below 1.15 handle in past two days found footstep at solid Fibo support at 1.1150 (38.2% of 1.0348/1.1645). The pound is weighed by BoE’s gloomy outlook for the economy, while the most recent hawkish tones from Fed suggest that the US central bank will remain in aggressive mode in policy tightening. Read more...

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FXStreet Team

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