Pound Sterling Price News and Forecast: GBP/USD – Cable stands at the front foot ahead of Fed


GBP/USD Forecast: Why sterling's upside correction may have a few more hours to run

A Brexit compromise is always good news for the pound – which has been extending its recovery. Prime Minister Boris Johnson has been seeking to soothe concerns about the controversial Internal Markets bill that passed the first hurdle in parliament.

The legislation violates the Brexit deal that Johnson signed with the EU – as admitted by government ministers. Sterling suffered badly when the move was announced and as Brussels laid down an ultimatum to London – rescind the bill by the end of the month or face sanctions. Read More...

GBPUSD

GBP/USD outlook: Cable stands at the front foot ahead of Fed

Cable edges higher on Wednesday, looking for another attempt at daily cloud top (1.2944) after the action in past two days was capped by rising cloud top.
The pair holds in green for the third straight day, with series of higher lows pointing to bullish near-term bias.
UK inflation fell to the lowest in almost five years in August, but release had a minor impact on sterling, inflated by weaker dollar and signals that the government might have a way through parliamentary labyrinth for PM Johnson’s bill which breaches existing Brexit agreement.
Daily techs show 14-d momentum rising from deep negative territory and RSI/Stochastic also heading north, but initial bullish signal could be expected only on firm break of daily cloud top, while rise above next pivotal barriers at 1.3000/37 (psychological / Fibo 38.2% of 1.3482/1.2762) is required to generate reversal signal. Read More...

GBPUSD

GBP/USD Price Analysis: Refreshes session tops, around the 1.2915 resistance zone

The GBP/USD pair rallied around 35-40 pips during the early European session and refreshed daily tops, around the 1.2915 region in the last hour, albeit lacked follow-through.

The recent recovery from multi-week lows has been along a three-day-old ascending trend-line. The mentioned support coincides with 100-hour SMA and should act as a key pivotal point for short-term traders. Meanwhile, the upside momentum remains capped near the 1.2915-20 horizontal resistance. A convincing breakthrough will be seen as a fresh trigger for bullish traders and pave the way for further near-term gains. Read More...

GBP/USD

Overview
Today last price 1.2966
Today Daily Change 0.0077
Today Daily Change % 0.60
Today daily open 1.2889
 
Trends
Daily SMA20 1.3126
Daily SMA50 1.2979
Daily SMA100 1.2703
Daily SMA200 1.2734
 
Levels
Previous Daily High 1.2926
Previous Daily Low 1.2815
Previous Weekly High 1.3279
Previous Weekly Low 1.2763
Previous Monthly High 1.3396
Previous Monthly Low 1.2982
Daily Fibonacci 38.2% 1.2884
Daily Fibonacci 61.8% 1.2858
Daily Pivot Point S1 1.2827
Daily Pivot Point S2 1.2765
Daily Pivot Point S3 1.2716
Daily Pivot Point R1 1.2939
Daily Pivot Point R2 1.2988
Daily Pivot Point R3 1.305

 

 

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: Coronavirus resurgence a cause for concern for Euro bulls

EUR/USD's uptrend at risk as coronavirus cases rise across the Eurozone. New lockdown restrictions may force the ECB to adopt a stronger dovish stance.  Traders eye preliminary Eurozone PMI numbers along with virus figures.

EUR/USD News

GBP/USD: Shrugs off virus woes amid US dollar weakness, eyes 1.3000

GBP/USD stays well bid above the mid-1.2900s following three successive failures to cross 1.3000 during last week. UK’s health authorities mull lockdown restrictions. Chancellor Sunak may extend business support loans. Fedspeak eyed amid a light calendar. 

GBP/USD News

Gold due for a breakout, according to key indicator

Gold's multi-week consolidation in a narrowing price range could end with a bullish breakout, as a widely-tracked daily chart indicator is about to turn bullish. The yellow metal has carved out a descending triangle pattern over the past four weeks.

Gold News

Forex Today: US dollar sags amid fiscal overhang, mounting coronavirus risks

The US dollar remained on the defensive starting out a fresh week this Monday, extending last week’s softness, courtesy of the gridlock on the US fiscal stimulus.

Read more

WTI buyers attack $41.00 amid US-Iran tension, escalating virus woes

WTI remains heavy below 50-day SMA, drops from $41.18 to begin the week. The energy benchmark keeps trailing 50-day SMA for over two weeks while taking clues from the US-Iran tussle and the coronavirus (COVID-19) headlines. Hopes of further stimulus, China’s optimism favor energy bulls.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures