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 keeps the offered stance just above 1.1700

EUR/USD is coming under heavy selling pressure in what has been a rather grim start to the new trading week, with the pair now trading close to the 1.1700 support area as the US Dollar stages a solid rebound. The prevailing flight to safety mood continues to favour the Greenback, as investors react to the escalating conflict in the Middle East and trim risk exposure across the board.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold trims losses, back below $5,400

Gold now surrenders part of the earlier advance past the $5,400 mark per troy ounce at the beginning of the week. Indeed, the precious metal’s strong uptick remains fuelled by increasing geopolitical tensions in the Middle East amid the intense demand for safer assets.