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

EUR/USD meets initial support around 1.1800

EUR/USD remains on the back foot, although it has managed to reverse the initial strong pullback toward the 1.1800 region and regain some balance, hovering around the 1.1850 zone as the NA session draws to a close on Tuesday. Moving forward, market participants will now shift their attention to the release of the FOMC Minutes and US hard data on Wednesday.

GBP/USD bounces off lows, retargets 1.3550

After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.

Gold remains offered below $5,000

Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.

RBNZ set to pause interest-rate easing cycle as new Governor Breman faces firm inflation

The Reserve Bank of New Zealand remains on track to maintain the Official Cash Rate at 2.25% after concluding its first monetary policy meeting of this year on Wednesday.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.