Pound Sterling Price News and Forecast: GBP/USD approaching critical support

FXStreet Team FXStreet

GBP/USD analysis: Reaches below 1.3750

The 1.3820 level provided enough resistance for the GBP/USD to pass below the lower trend line of the channel down pattern, which guided the rate since June 23. During Friday's trading hours, the rate fluctuated sideways near the 1.3750 mark. In theory, the pair should decline, as it has no technical support as low as the 1.3677 level, where the weekly S2 simple pivot point was located at. However, support could be provided by round exchange rate levels like the 1.3740, 1.3720 and most importantly the 1.3700 mark. Read more...

GBP/USD Weekly Forecast: Approaching critical support, Fed minutes and Delta could down cable

GBP/USD has been on the back foot mostly due to dollar strength. Fed meeting minutes, UK GDP and virus headlines are set to rock cable. Early July´s daily chart is showing bears have limited room to run. The FX Poll is pointing to short term falls and recovery afterward. Where will the dollar rally halt? A mix of factors has been boosting the greenback – which seems unstoppable, especially as the pound has had its share of issues. Minutes from the Fed – the main dollar driver – and the Delta covid variant remain in the limelight. Read more...

GBP/USD recovers further on Friday as the US dollar retreats

Greenback holds onto daily losses during Friday’s American session. US employment data triggers correction of the dollar. GBP/USD up on Friday, but down for the week. The GBP/USD is hovering near 1.3800 after a sharp recovery from 1.3730, the lowest level since mid-April. The pair bottomed immediately after the release of the US employment report and then bounced to the upside as the greenback reversed, falling across the board. Read more...

GBP/USD

Overview
Today last price	1.3835
Today Daily Change	0.0068
Today Daily Change %	0.49
Today daily open	1.3767

Trends
Daily SMA20	1.3989
Daily SMA50	1.4029
Daily SMA100	1.3951
Daily SMA200	1.3645

Levels
Previous Daily High	1.3835
Previous Daily Low	1.3753
Previous Weekly High	1.4001
Previous Weekly Low	1.3787
Previous Monthly High	1.4249
Previous Monthly Low	1.3787
Daily Fibonacci 38.2%	1.3784
Daily Fibonacci 61.8%	1.3804
Daily Pivot Point S1	1.3735
Daily Pivot Point S2	1.3703
Daily Pivot Point S3	1.3653
Daily Pivot Point R1	1.3817
Daily Pivot Point R2	1.3867
Daily Pivot Point R3	1.3899

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD: Bulls pray for a dovish Fed

EUR/USD has finally taken a breather after a pretty energetic climb. The pair broke above 1.1680 in the second half of the week, reaching its highest levels in around two months before running into some selling pressure. Even so, it has gained almost two cents from the late-November dip just below 1.1500 the figure.

GBP/USD trims gains, recedes toward 1.3320

GBP/USD is struggling to keep its daily advance, coming under fresh pressure and retreating to the 1.3320 zone following a mild bullish attempt in the Greenback. Even though US consumer sentiment surprised to the upside, the US Dollar isn’t getting much love, as traders are far more interested in what the Fed will say next week.

Gold: Bullish momentum fades despite broad USD weakness

After rising more than 3.5% in the previous week, Gold has entered a consolidation phase and fluctuated at around $4,200. The Federal Reserve’s interest rate decision and revised Summary of Economic Projections, also known as the dot plot, could trigger the next directional move in XAU/USD.

Week ahead: Rate cut or market shock? The Fed decides

Fed rate cut widely expected; dot plot and overall meeting rhetoric also matter. Risk appetite is supported by Fed rate cut expectations; cryptos show signs of life. RBA, BoC and SNB also meet; chances of surprises are relatively low. Dollar weakness could linger; both the aussie and the yen best positioned to gain further. Gold and oil eye Ukraine-Russia developments; a peace deal remains elusive.

Week ahead – Rate cut or market shock? The Fed decides

Ripple faces persistent bear risks, shrugging off ETF inflows

Ripple is extending its decline for the second consecutive day, trading at $2.06 at the time of writing on Friday. Sentiment surrounding the cross-border remittance token continues to lag despite steady inflows into XRP spot ETFs.