Pound Sterling Price News and Forecast: GBP/USD bears are in control and taking out structures along the way

FXStreet Team FXStreet

GBP/USD Price Analysis: Bears eye a discount for a test of 1.2300

GBP/USD is currently trading at 1.2310 and is around flat for the day ahead of the Federal Reserve and the Bank of England the following day where both events are expected to see the central banks hike their interest rates.

Meanwhile, from a technical standpoint, GBP/USD is on the back foot and has made a series of lower closes over the past few days, topping out from the 1.2440s made mid-January. As it breaks down various lower time frame structures and swing-lows, the bias remains in the hands of the bears for the foreseeable future as the following will illustrate. Read more...

GBP/USD: Downbeat UK inflation expectations, housing data supersede Brexit news above 1.2300, Fed eyed

GBP/USD fails to cheer the US Dollar weakness much as Cable’s recovery from the weekly low fades around 1.2320 during early Wednesday. In doing so, the quote seems to justify the downbeat catalysts at home, mainly relating to inflation and housing markets.

That said, a monthly survey conducted by Citi and YouGov showed on Tuesday that the 12 months ahead UK public inflation expectations declined to 5.4% in January from 5.7% in the previous survey. This was the second straight decline in the UK public's inflation expectations. Following the data, Reuters reports, citing the survey that the declining trend in the UK public inflation expectations should further comfort to the Bank of England that high prices will not become permanently embedded in expectations. Read more...

GBP/USD

Overview
Today last price	1.2311
Today Daily Change	-0.0017
Today Daily Change %	-0.14
Today daily open	1.2328

Trends
Daily SMA20	1.2259
Daily SMA50	1.2182
Daily SMA100	1.1781
Daily SMA200	1.196

Levels
Previous Daily High	1.2371
Previous Daily Low	1.2284
Previous Weekly High	1.2448
Previous Weekly Low	1.2263
Previous Monthly High	1.2448
Previous Monthly Low	1.1841
Daily Fibonacci 38.2%	1.2317
Daily Fibonacci 61.8%	1.2338
Daily Pivot Point S1	1.2284
Daily Pivot Point S2	1.2241
Daily Pivot Point S3	1.2198
Daily Pivot Point R1	1.2371
Daily Pivot Point R2	1.2414
Daily Pivot Point R3	1.2458

Author

FXStreet Team

FXStreet

EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, rises above $5,400

Gold benefits from intense risk-aversion on Monday and climbs above $5,400, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.