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.

AUD/USD hits three-week highs past 0.7000

Finally, AUD/USD has managed to reclaim the key 0.7000 yardstick on Tuesday. Indeed, the pair clinched its third day in a row of gains, following the persistent correction in the Greenback amid the generalised improvement in the risk-linked galaxy.

USD/JPY flatlines near 158.50 as markets seek direction

USD/JPY steadies around 158.50 in the Asian trading hours on Tuesday. Traders prefer to wait on the sidelines ahead of Japan’s National Consumer Price Index inflation data later on Friday. Meanwhile, elevated US bond yields provide some support to the US Dollar against the Japanese Yen.

Gold just failed at $4,150. This is the next stop

Gold prices trade without a clear direction on Tuesday, hovering around the $4,170 region per troy ounce and still struggling to regain upside traction following Monday’s pullback. In the meantime, lower US Treasury yields and a marked pullback in the US Dollar come in tandem with the yellow metal’s price action.

Dogecoin Price Forecast: DOGE struggles below key moving average resistance

Dogecoin (DOGE) is trading marginally above $0.0800 on Tuesday, up 1% on the day, against lows around $0.0785. The meme coin is cautiously navigating a broader lethargic cryptocurrency market where Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are struggling to gain momentum.

Markets at a turning point: Bitcoin, Gold, FX and Tech react to a heavy macro week

The new trading week opens with a mixed but revealing picture across global markets. Indices, commodities, FX, tech stocks, and cryptocurrencies are all sending one message: risk appetite is alive, but it is cautious, selective, and highly sensitive to macro signals.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.