Pound Sterling Price News and Forecast: GBP/USD bulls take a breather following the heaviest run-up in two weeks


GBP/USD looks shy of regaining 1.4200, Brexit, UK data dump eyed

GBP/USD consolidates the heaviest jump since May 27 below 1.4200, around 1.4175 amid the early Asian session on Friday. The cable cheered receding pessimism over the Brexit and the US dollar weakness the previous day. However, bulls turn cautious ahead of multiple catalysts scheduled for publishing during the day.

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GBP/USD

Overview
Today last price 1.4173
Today Daily Change -0.0003
Today Daily Change % -0.02
Today daily open 1.4176
 
Trends
Daily SMA20 1.4157
Daily SMA50 1.3996
Daily SMA100 1.392
Daily SMA200 1.3568
 
Levels
Previous Daily High 1.4178
Previous Daily Low 1.4073
Previous Weekly High 1.4249
Previous Weekly Low 1.4083
Previous Monthly High 1.4234
Previous Monthly Low 1.3801
Daily Fibonacci 38.2% 1.4138
Daily Fibonacci 61.8% 1.4113
Daily Pivot Point S1 1.4107
Daily Pivot Point S2 1.4038
Daily Pivot Point S3 1.4002
Daily Pivot Point R1 1.4212
Daily Pivot Point R2 1.4247
Daily Pivot Point R3 1.4317

 

Technical analysis: Will the GBP/USD retreat continue?

The GBPUSD technical analysis of the price chart on a 1-hour timeframe shows GBPUSD: H1 is rebounding to test the 200-period moving average MA(200) which is declining. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.4154. A level above this can be used as an entry point for placing a pending order to buy. 

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