Pound Sterling Price News and Forecast: GBP/USD bears take on the critical support area

FXStreet Team FXStreet

GBP/USD looks to UK jobs, Brexit to defend 1.4100

GBP/USD remains sidelined above 1.4100, recently taking offers around the intraday low of 1.4105 by the press time of the early Asian session on Tuesday. The cable dropped to the lowest since mid-May before bouncing off 1.4070 the previous day. Even so, Brexit woes join the pre-data cautious sentiment to test the pair’s corrective pullback. UK PM Johnson officially announced four-week delay to earlier June 21 unlock deadline.

GBP/USD

Overview
Today last price	1.4113
Today Daily Change	0.0002
Today Daily Change %	0.01
Today daily open	1.4111

Trends
Daily SMA20	1.4156
Daily SMA50	1.4005
Daily SMA100	1.3928
Daily SMA200	1.3577

Levels
Previous Daily High	1.4124
Previous Daily Low	1.407
Previous Weekly High	1.4191
Previous Weekly Low	1.4073
Previous Monthly High	1.4234
Previous Monthly Low	1.3801
Daily Fibonacci 38.2%	1.4103
Daily Fibonacci 61.8%	1.4091
Daily Pivot Point S1	1.4079
Daily Pivot Point S2	1.4048
Daily Pivot Point S3	1.4026
Daily Pivot Point R1	1.4133
Daily Pivot Point R2	1.4155
Daily Pivot Point R3	1.4186

GBP/USD Price Analysis: Bears testing bullish commitments at key support

GBP/USD has been pressured in recent trade and is now testing the critical short term support and psychological 1.41 level. However, the prospects of a near term downside continuation are limited by the potential reverse head and shoulders in the making on the hourly chart. The price is trading between a weekly 38.2% Fib support area and the resistance of the daily highs and sideways channel.

EUR/USD loses traction after earlier rebound, tests 1.1600

EUR/USD fails to preserve its recovery momentum after rising toward 1.1650 earlier in the day and tests 1.1600. The risk-averse market atmosphere amid the widening conflict in the Middle East and the broad-based US Dollar strength make it difficult for the pair to hold its ground.

GBP/USD stays weak near 1.3350 amid UK stagflation risks

GBP/USD stays in negative territory near 1.3350 in the second half of the day Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh safe-haven demand, weighing on the pair.

Gold struggles to benefit from risj-aversion, drops toward $5,100

Gold turns south in the American session on Thursday and declines toward $5,100. The persistent US Dollar (USD) strength doesn't allow XAU/USD to gather recovery momentum despite markets remain risks-averse due to the deepening conflict in the Middle East.

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