Pound Sterling Price News and Forecast GBP/USD: Can renewed Brexit optimism save the pound?

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Recovery time? UK inflation and jobs data could counter dollar surge

GBP/USD has been extending its decline in response to high US inflation data. Highest since 1990 – US inflation has hit 6.2%, reaching not only a historic peak but also sending the dollar substantially higher. The mix of Brexit acrimony and disappointing UK growth figures contributed to a downfall for GBP/USD. What's next? Critical data for the subsequent rate decisions stand out in the upcoming week. Read more...

GBP/USD Forecast: Can renewed Brexit optimism save the pound?

GBP/USD has been having a tough time staging a rebound. GBP/USD has extended slide to a fresh 2021 low early Friday before going into a consolidation phase. The pair's potential recovery depends on Brexit developments as the dollar is likely to hold its ground with investors pricing a 72% chance of a Federal Reserve rate hike by June 2022. Read more...

GBP/USD Price Analysis: Failure at 1.3430 opens the door for a further downfall, towards 1.3200

The British pound bounces off year-to-date lows at 1.3352, edges up 0.40%, trading at 1.3418 during the New York session at the time of writing. In the last three days, cable lost almost 2%, driven mainly by US dollar strength, influenced by higher inflation figures in the US economy, reported by the Labor Department. Also, a dovish stance perceived by investors in the last Bank of England (BoE) monetary policy meeting fueled the slide of the GBP. Read more...

GBP/USD

Overview
Today last price	1.3418
Today Daily Change	0.0054
Today Daily Change %	0.40
Today daily open	1.3364

Trends
Daily SMA20	1.3662
Daily SMA50	1.3676
Daily SMA100	1.3742
Daily SMA200	1.3846

Levels
Previous Daily High	1.3433
Previous Daily Low	1.3359
Previous Weekly High	1.3698
Previous Weekly Low	1.3424
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3387
Daily Fibonacci 61.8%	1.3405
Daily Pivot Point S1	1.3337
Daily Pivot Point S2	1.3311
Daily Pivot Point S3	1.3263
Daily Pivot Point R1	1.3412
Daily Pivot Point R2	1.346
Daily Pivot Point R3	1.3486

Author

FXStreet Team

FXStreet

EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, tests $5,400

Gold benefits from intense risk-aversion on Monday and climbs to the $5,400 region, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin on brink of breakdown amid US-Iran war

Bitcoin (BTC) remains under pressure near the key support level of $65,700. Trading at $66,400 at the time of writing on Monday, a breakdown below this critical level would suggest a deeper correction ahead.

The week ahead: Conflict in the Middle East jolts markets

Events in the Middle East are obviously dominating financial markets this morning. The Brent crude oil price is extending gains and is higher by more than 8%, stock futures are pointing lower and the gold price is higher by more than 2%.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.