Pound Sterling Price News and Forecast: GBP/USD bulls stay the course as US dollar remains pressured

FXStreet Team FXStreet

GBP/USD bulls stay the course as US dollar remains pressured

At 1.2580, GBP/USD is flat in midday trade on Wall Street. The pair has moved within a range of between 1.2551 and 1.2620 so far. Sterling, among the rest of the G7 block, has benefitted from a softer US dollar in the closing stages of the month. Comments from FOMC officials this week have turned slightly dovish and the focus turned to other central banks, such as the European central bank, the Reserve bank of New Zealand and meetings on the horizon, such as the Bank of England in June. Read more...

GBP/USD

Overview
Today last price	1.2655
Today Daily Change	0.0059
Today Daily Change %	0.47
Today daily open	1.2596

Trends
Daily SMA20	1.2433
Daily SMA50	1.2787
Daily SMA100	1.3118
Daily SMA200	1.3338

Levels
Previous Daily High	1.2621
Previous Daily Low	1.2552
Previous Weekly High	1.2525
Previous Weekly Low	1.2217
Previous Monthly High	1.3167
Previous Monthly Low	1.2411
Daily Fibonacci 38.2%	1.2595
Daily Fibonacci 61.8%	1.2578
Daily Pivot Point S1	1.2558
Daily Pivot Point S2	1.2521
Daily Pivot Point S3	1.2489
Daily Pivot Point R1	1.2627
Daily Pivot Point R2	1.2659
Daily Pivot Point R3	1.2696

GBP/USD Forecast: Pound closes in on key resistance above 1.2600

GBP/USD has gathered bullish momentum on Thursday and climbed above 1.2600. The pair was last seen testing the key resistance level located near 1.2620 and a four-hour close above that level could be taken as a bullish sign. The selling pressure surrounding the greenback is helping GBP/USD push higher. The US Dollar Index stays in negative territory below 102.00 in the European trading hours as US Treasury bond yields extend the weekly slide toward 2.7%. Read more...

Technical view: BTC/USD emphasising weakness and EUR/USD eyeing higher levels

GBP/USD: Long term, this market has been entrenched within a strong primary downtrend since early 2021, emphasising weekly resistance at $1.2719 and daily Quasimodo support-turned resistance at $1.2762 as a possible ceiling should price test the base. Interestingly, the daily timeframe’s relative strength index (RSI) is poised to overthrow the 50.00 centreline: positive momentum. Read more...

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FXStreet Team

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