Pound Sterling Price News and Forecast: GBP/USD bearish breakout around the corner

FXStreet Team FXStreet

GBP/USD bears jump on Fed's switch to hawkish on inflation risks, target 1.3980

The bears are beating down the bulls as the US Federal Reserve turns more hawkish as they monitor inflation risks that could turn out to be higher and more persistent than they had expected. At the time of writing, GBP/USD is trading at 1.4012, just off its lows of 1.4011 after falling on the day from a high of 1.4132. The has pound dropped around 0.66% vs the US dollar since the Fed's announcements. Read more...

GBP/USD Forecast: Bearish breakout around the corner

The GBP/USD pair advanced during London trading hours, reaching an intraday high of 1.4132, helped by better than anticipated UK inflation data. The Consumer Price Index was up by 2.1% YoY in May, while the core reading hit 2%. The Retail Price Index in the same period hit 3.3% as expected. However, a hawkish US Federal Reserve sent the pair down to 1.3996, its lowest in over a month. Read more...

GBP/USD sideways near 1.4100 ahead of the Fed

Pound holds onto gains across the board ahead of the FOMC statement. US dollar moving sideways, DXY flat around 90.50. The GBP/USD peaked after the beginning of the American session at 1.4132 and quickly pulled back to the 1.4120/1.4100 range. It is moving sideways in the range ahead of the Fed’s decision. Read more...

GBP/USD

Overview
Today last price	1.3991
Today Daily Change	-0.0091
Today Daily Change %	-0.65
Today daily open	1.4082

Trends
Daily SMA20	1.4151
Daily SMA50	1.401
Daily SMA100	1.3932
Daily SMA200	1.3582

Levels
Previous Daily High	1.4129
Previous Daily Low	1.4034
Previous Weekly High	1.4191
Previous Weekly Low	1.4073
Previous Monthly High	1.4234
Previous Monthly Low	1.3801
Daily Fibonacci 38.2%	1.407
Daily Fibonacci 61.8%	1.4093
Daily Pivot Point S1	1.4035
Daily Pivot Point S2	1.3987
Daily Pivot Point S3	1.394
Daily Pivot Point R1	1.4129
Daily Pivot Point R2	1.4176
Daily Pivot Point R3	1.4223

Author

FXStreet Team

FXStreet

EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar gathers strength against the Euro as escalating tensions in the Middle East boost safe-haven currencies. The preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be published later on Tuesday.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold clings to gains as US-Iran conflict continues to underpin safe-haven assets

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar could keep the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.