Pound Sterling Price News and Forecast: GBP/USD at risk of extending its slump on renewed dollar’s demand

FXStreet Team FXStreet

GBP/USD bulls tested at critical daily support

GBP/USD is off the recent recovery highs and is at a make or break area on the daily chart. The central banks are in focus and driving the price as well as COVID risk. Due mainly to US dollar strength, GBP/USD is under pressure on Tuesday, down 0.33% at the time of writing after falling from a high of 1.3904 to a low of 1.3800. Read more...

GBP/USD Forecast: At risk of extending its slump on renewed dollar’s demand

The GBP/USD pair ended Tuesday in the red around 1.3820, as the dollar benefited from unexpectedly higher US inflation, with the pair bottoming for the day at 1.3799. The Bank of England released its semi-annual Financial Stability Report, which showed that policymakers expect to maintain the rates at record lows at least until December 2021. “The economic outlook has improved, but risks to the recovery remain, especially those related to the spread of COVID,” the document shows. Read more...

GBP/USD dives to 1.3800 mark, fresh session lows on hotter-than-expected US CPI

A combination of factors prompted some fresh selling around GBP/USD on Tuesday. COVID-19 jitters, Brexit woes continued acting as a headwind for the British pound. Upbeat US CPI report pushed the USD higher and added to the intraday selling bias. The GBP/USD pair dived to fresh daily lows in reaction to hotter-than-expected US consumer inflation figures, with bearish now eyeing sustained weakness below the 1.3800 mark. Read more...

GBP/USD

Overview
Today last price	1.3812
Today Daily Change	-0.0075
Today Daily Change %	-0.54
Today daily open	1.3887

Trends
Daily SMA20	1.3881
Daily SMA50	1.402
Daily SMA100	1.3944
Daily SMA200	1.3678

Levels
Previous Daily High	1.391
Previous Daily Low	1.3839
Previous Weekly High	1.3908
Previous Weekly Low	1.3742
Previous Monthly High	1.4249
Previous Monthly Low	1.3787
Daily Fibonacci 38.2%	1.3866
Daily Fibonacci 61.8%	1.3883
Daily Pivot Point S1	1.3847
Daily Pivot Point S2	1.3808
Daily Pivot Point S3	1.3776
Daily Pivot Point R1	1.3918
Daily Pivot Point R2	1.3949
Daily Pivot Point R3	1.3989

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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