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 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, closes in on $5,400

Gold benefits from intense risk-aversion on Monday and climbs toward $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.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.