Pound Sterling Price News and Forecast: GBP/USD – Cable cracks key support zone [Video]

GBP/USD: Selling pressure is mounting [Video]

Selling pressure is mounting. After the recent rebound failed around 1.3000, three decisive negative candles have driven Cable below the support at 1.2760. This has opened a test of 1.2650 which are the old highs from Q2 2020. With the increasingly negative configuration on momentum indicators, the market is selling into near term strength. A downtrend of the past three weeks is around 1.2900 so any near term rebound is a chance to sell. The old 1.2760 support is the first line of resistance now. A downside break back under 1.2650 would essentially move the outlook into a new bear phase and the low 1.20s come back into play. The importance of 1.3000 as a medium term resistance is growing. Read More...


GBP/USD Outlook: Cable cracks key support zone and hits fresh multi-month low

Cable dipped to nine-month low (1.2675) on Wednesday, in extension of strong fall in past three days, following downbeat PMI data.
The activity in UK Services sector slowed this month (55.1 current vs 58.8 previous month) and also missed forecast at 56.0, while Manufacturing PMI came slightly above expectations (54.3 vs 54.1 f/c) but also fell from previous month's 55.2.
Both indicators point to loss of momentum in post-lockdown recovery but still showing growth in their sectors, as Britain's economy is recovering from devastating fall in country's GDP in the second quarter (more than 20%).
Fresh weakness emerged below thick daily Ichimoku cloud (cloud base lays at 1.2750), probed below converged 100/200DMA's (1.2724) and cracked pivotal Fibo support at 1.2690 (38.2% of 1.1409/1.3482). Bears need clear break of these supports to spark fresh acceleration lower and extend correction of Mar-Aug 1.1409/1.3482 rally), but may take a breather above key support zone as momentum on daily chart reverses from deep negative territory and stochastic enters oversold zone. Read More...


GBP/USD hangs near two-month lows, below 1.2700 mark post-UK PMIs

The GBP/USD pair maintained its offered tone near two-month lows, below the 1.2700 mark and had a rather muted reaction to the UK macro data.

The pair prolonged its recent rejection slide from the key 1.3000 psychological mark and remained under some selling pressure for the fourth consecutive session on Wednesday. Even though the BoE Governor Andrew Bailey downplayed expectations of negative interest rates, the British pound struggled to attract any meaningful buying amid persistent Brexit-related worries. Read More...


Today last price 1.2733
Today Daily Change 0.0000
Today Daily Change % 0.00
Today daily open 1.2733
Daily SMA20 1.3066
Daily SMA50 1.3008
Daily SMA100 1.2722
Daily SMA200 1.2725
Previous Daily High 1.2867
Previous Daily Low 1.2711
Previous Weekly High 1.3007
Previous Weekly Low 1.2777
Previous Monthly High 1.3396
Previous Monthly Low 1.2982
Daily Fibonacci 38.2% 1.2771
Daily Fibonacci 61.8% 1.2808
Daily Pivot Point S1 1.2674
Daily Pivot Point S2 1.2614
Daily Pivot Point S3 1.2517
Daily Pivot Point R1 1.283
Daily Pivot Point R2 1.2927
Daily Pivot Point R3 1.2987



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces from 1.18 after robust German Manufacturing PMI

EUR/USD is trading above 1.18 after German Manufacturing PMI beat estimates. Other PMIs missed expectations. US fiscal stimulus and the election developments are eyed.


GBP/USD retreats amid mixed Brexit headlines

GBP/USD has retreated from the highs around 1.31 after UK minister Truss reiterated that the UK could leave without a deal. Ireland´s Coveney expressed more optimism. UK retail sales beat estimates while PMIs were mixed.


XAU/USD's reversal from $1,914 contained at $1,895 support area

Gold’s upside attempt witnessed during the Asian and European trading sessions has been halted at $1,914 on the Early US session as market sentiment plunged and the precious metal has dropped to find support at $1,895.

Gold News

Forex Today: Dollar clings to gains after the presidential debate, Bitcoin extends gains, PMIs eyed

The US dollar is holding onto Thursday's recovery, The presidential debate was more civilized than the previous one and post-event opinion polls are awaited. Earlier, hopes for a stimulus bill faded and allowed the dollar to recover. PMIs and COVID-19 statistics stand out on Friday.

Read more

WTI hits one-week low at $39.55 after Baker Hughes’ report

Front-month WTI futures’ reversal from day tops near $41 has extended to one-week lows at $39.55 on Friday after Baker Hughes reported that US oil and gas rigs increased to their highest level since May last week.

Oil News