Pound Sterling Price News and Forecast: GBP/USD approaches 1.4200 as US dollar accelerates the decline

FXStreet Team FXStreet

GBP/USD Price Analysis: 1.4250 remains a tough nut to crack for the bulls

GBP/USD stays on the front foot around 1.4190 after the previous day’s heavy run-up during Friday’s initial Asian session. In doing so, the cable justifies its bounce from 10-day SMA to aim for the key hurdle around mid-1.4200. However, oscillators are likely testing the pair’s further upside.

During the run-up to 1.4250 resistance confluence, comprising an ascending trend line from April 20 and February’s high, the 1.4200 threshold and monthly peak near 1.4220 offer intermediate halts.

GBP/USD approaches 1.4200 as US dollar accelerates the decline

The GBP/USD rose further and climbed to 1.4182, reaching a fresh daily low. Cable is erasing Wednesday’s losses and is approaching the 1.4200 supported by a decline of the US dollar across the board and risk appetite.

Equity prices in Wall Street reach fresh highs. The Dow Jones rises by 0.81% and the Nasdaq by 1.72%. The improvement in risk appetite weighed on the US dollar. The DXY fell to 89.78, and it remains near the low, down 0.42% for the day, looking at May’s lows.

GBP/USD

Overview
Today last price	1.4186
Today Daily Change	0.0071
Today Daily Change %	0.50
Today daily open	1.4115

Trends
Daily SMA20	1.3985
Daily SMA50	1.3892
Daily SMA100	1.3833
Daily SMA200	1.3491

Levels
Previous Daily High	1.4201
Previous Daily Low	1.41
Previous Weekly High	1.4166
Previous Weekly Low	1.3982
Previous Monthly High	1.4009
Previous Monthly Low	1.3669
Daily Fibonacci 38.2%	1.4138
Daily Fibonacci 61.8%	1.4162
Daily Pivot Point S1	1.4076
Daily Pivot Point S2	1.4037
Daily Pivot Point S3	1.3974
Daily Pivot Point R1	1.4177
Daily Pivot Point R2	1.424
Daily Pivot Point R3	1.4278

Author

FXStreet Team

FXStreet

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