Pound Sterling Price News and Forecast: GBP/USD bounces off daily low

FXStreet Team FXStreet

GBP/USD Forecast: Pound recovery unlikely in current risk-averse environment

GBP/USD has started the new week on the back foot pressured by another bout of flight to safety amid escalating geopolitical tensions. The pair is likely to face additional bearish pressure in case sellers drag it below 1.3340.

Over the weekend, the UK, alongside the EU and the US, decided to exclude some Russian financial institutions from the SWIFT system. Additionally, the UK announced early Monday that it will prohibit any UK natural or legal persons from undertaking financial transactions involving the Central Bank of Russia. On Sunday, Russian President Vladimir Putin put deterrent forces, including nuclear arms, at the highest threat level. Read more...

GBP/USD bounces off daily low, keeps the red below 1.3400 mark amid Ukraine crisis

The GBP/USD pair recovered a major part of its intraday losses and was last seen trading near the 1.3375 region during the early European session, down around 0.20% for the day.

The pair opened with a bearish gap on the first day of a new week amid a broad-based US dollar strength, bolstered by the weekend developments surrounding the Ukraine crisis. Western nations imposed new sanctions on Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system. Read more...

GBP/USD: Near-term support seems to have formed at 1.3340

GBP/USD has turned south following Friday's modest rebound. The pair is likely to face additional bearish pressure in case sellers drag it below 1.3340, FXStreet’s Eren Sengezer reports.

“As things currently stand, a diplomatic solution to the Russia-Ukraine war seems unlikely, suggesting that the dollar is likely to continue to be preferred over the British pound, at least in the near term.” Read more...

GBP/USD

Overview
Today last price	1.3399
Today Daily Change	-0.0013
Today Daily Change %	-0.10
Today daily open	1.3412

Trends
Daily SMA20	1.354
Daily SMA50	1.3521
Daily SMA100	1.3502
Daily SMA200	1.3673

Levels
Previous Daily High	1.3439
Previous Daily Low	1.3366
Previous Weekly High	1.3638
Previous Weekly Low	1.3273
Previous Monthly High	1.3749
Previous Monthly Low	1.3358
Daily Fibonacci 38.2%	1.3411
Daily Fibonacci 61.8%	1.3394
Daily Pivot Point S1	1.3373
Daily Pivot Point S2	1.3333
Daily Pivot Point S3	1.33
Daily Pivot Point R1	1.3445
Daily Pivot Point R2	1.3478
Daily Pivot Point R3	1.3517

Author

FXStreet Team

FXStreet

EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.