Pound Sterling Price News and Forecast: GBP/USD cable is consolidating under new one-month high

FXStreet Team FXStreet

GBP/USD eases from critical daily resistance near 1.3770 amid firmer USD

GBP/USD has faced rejection once again near the 1.3770 region, with the bears now fighting back control, dragging the rates lower towards 1.3700.

In doing so, the cable turns into the red zone for the first time in four trading sessions, retreating from four-week highs reached last Friday. Read more...

GBP/USD outlook: Cable is consolidating under new one-month high

Cable is consolidating under new one-month high (1.3773) in early Monday, following last week’s 0.55% advance and weekly close above double-Fibo barriers at 1.3721 (61.8% of 1.3912/1.3411) and 1.3731 (61.8% of 1.4249/1.3411) that generated bullish signal.

The sentiment remains strong as hopes for BoE rate hike as early as November were boosted by hawkish comments from Governor Bailey, who said that the central bank is gearing up for the first rate hike after pandemic on mounting inflation risk. Read more...

GBP/USD has room to rise if markets price in a BoE rate hike in November

GBP/USD has been boosted by Brexit calm and clearer Fed path. The Bank of England's (BoE) next decision will be influenced by UK inflation. Elevated numbers are key to more sterling gains, Yohay Elam, an Analyst at FXStreet, reports.

“Market observers seem resigned to accept that the Brexit topic will linger for a long time – but there is a difference between making the headlines and being a side story. If quiet negotiations replace pompous speeches, sterling could shine. On the other hand, ongoing clashes could pressure the pound.” Read more...

GBP/USD

Overview
Today last price	1.3741
Today Daily Change	-0.0003
Today Daily Change %	-0.02
Today daily open	1.3744

Trends
Daily SMA20	1.3617
Daily SMA50	1.3719
Daily SMA100	1.382
Daily SMA200	1.3846

Levels
Previous Daily High	1.3773
Previous Daily Low	1.3668
Previous Weekly High	1.3773
Previous Weekly Low	1.3568
Previous Monthly High	1.3913
Previous Monthly Low	1.3412
Daily Fibonacci 38.2%	1.3733
Daily Fibonacci 61.8%	1.3708
Daily Pivot Point S1	1.3683
Daily Pivot Point S2	1.3623
Daily Pivot Point S3	1.3578
Daily Pivot Point R1	1.3789
Daily Pivot Point R2	1.3834
Daily Pivot Point R3	1.3894

Author

FXStreet Team

FXStreet

EUR/USD looks sidelined below 1.1600

EUR/USD remains on the back foot in the latter part of the NA session on Thursday, now attempting a consolidative theme in the sub-1.1600 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is favouring the continuation of the leg lower in spot.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

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Ripple tests recovery strength amid steady ETF inflows, growing retail interest

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