Pound Sterling Price News and Forecast: GBP/USD bears are testing prior equal highs level near 1.2270

FXStreet Team FXStreet

GBP/USD Price Analysis: Bears step in to test bulls at key support

GBP/USD is testing a prior resistance and an equal highs level near 1.2270. A break of this will open the risk of a deeper correction of the prior H4 bullish impulse with the 61.8% Fibonacci in focus that is near prior highs of 1.2200. Read more...

GBP/USD upside stalls near 1.2280 amid banking crisis, BoE response, and Brexit uncertainty

GBP/USD dribbles around a six-week high, making rounds to 1.2270-80 during early Tuesday, as the banking crisis challenges the Bank of England (BoE) hawks. Also testing the Cable pair buyers are the looming fears of another Brexit disappointment, despite UK Prime Minister Rishi Sunak’s hard efforts to strike a deal over the Northern Ireland Protocol (NIP).

The Telegraph conveys multiple analysts’ estimations while saying, “The Bank of England (BoE) will be forced to abandon an interest rate rise this week following turmoil in global financial markets.” The forecasts become too important ahead of the “Super Thursday” as some on the floor expected a 50 bps rate hike from the “Old Lady”, as the BoE is casually known. Read more...

GBP/USD

Overview
Today last price	1.2262
Today Daily Change	-0.0016
Today Daily Change %	-0.13
Today daily open	1.2278

Trends
Daily SMA20	1.2041
Daily SMA50	1.2143
Daily SMA100	1.2057
Daily SMA200	1.1892

Levels
Previous Daily High	1.2285
Previous Daily Low	1.2167
Previous Weekly High	1.2204
Previous Weekly Low	1.201
Previous Monthly High	1.2402
Previous Monthly Low	1.1915
Daily Fibonacci 38.2%	1.224
Daily Fibonacci 61.8%	1.2212
Daily Pivot Point S1	1.2202
Daily Pivot Point S2	1.2125
Daily Pivot Point S3	1.2084
Daily Pivot Point R1	1.232
Daily Pivot Point R2	1.2361
Daily Pivot Point R3	1.2438

Author

FXStreet Team

FXStreet

EUR/USD: Gains remain capped by 1.1650

EUR/USD remains in recovery-mode following the closing bell in Euroland on Wednesday, hovering around the 1.1650 zone amid renewed downside pressure on the US Dollar and a marginal improvement in the global sentiment.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold struggles to surpass $5,200

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.