Pound Sterling Price News and Forecast GBP/USD: BOE may save sterling after massive Fed-induced 300-pip blow

FXStreet Team FXStreet

GBP/USD Weekly Forecast: BOE may save sterling after massive Fed-induced 300-pip blow

GBP/USD has tumbled down in response to a Fed decision, UK reopening delay. The BOE's decision and a bulk of US figures are set to move the currency pair. Mid-June's daily chart is showing bears are taking over. The FX Poll is pointing a recovery, albeit not to pre-Fed levels. Hawkish Fed – these words have rarely been written together, and the abrupt change from the world's most powerful central bank has been boosting the dollar. For GBP/USD, the ball now shifts to the Bank of England, which has to weigh economic optimism and the spread of the Delta covid variant. Read more...

GBP/USD Forecast: Recovery from the Fed? Only a dead-cat bounce for Delta-depressed pound

GBP/USD has been struggling to recover from the Fed-fueled dollar storm. Weak UK retail sales and covid's rapid spread have been weighing on sterling. Friday's four-hour chart is showing that cable is moderately oversold. When will "Freddom Day" come? That is a question many Brits are asking themselves after the government postponed the lifting of the last restrictions to July 19 – but reportedly considers bringing it forward to July 5. However, such hopes will likely be dashed. Read more...

GBP/USD dives to fresh multi-week lows amid sustained USD buying

GBP/USD remained under some heavy selling pressure amid a broad-based USD strength. The Fed’s hawkish turn, the risk-off mood continued boosting the safe-haven greenback. COVID-19/Brexit jitters weighed on the British pound and contributed to the selling bias. The USD buying picked up pace during the early North American session and dragged the GBP/USD pair to fresh multi-week lows, around the 1.3845 region in the last hour. Read more...

GBP/USD

Overview
Today last price	1.3809
Today Daily Change	-0.0113
Today Daily Change %	-0.81
Today daily open	1.3922

Trends
Daily SMA20	1.4131
Daily SMA50	1.4019
Daily SMA100	1.3937
Daily SMA200	1.3593

Levels
Previous Daily High	1.4009
Previous Daily Low	1.3896
Previous Weekly High	1.4191
Previous Weekly Low	1.4073
Previous Monthly High	1.4234
Previous Monthly Low	1.3801
Daily Fibonacci 38.2%	1.3939
Daily Fibonacci 61.8%	1.3966
Daily Pivot Point S1	1.3876
Daily Pivot Point S2	1.3829
Daily Pivot Point S3	1.3763
Daily Pivot Point R1	1.3989
Daily Pivot Point R2	1.4055
Daily Pivot Point R3	1.4102

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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