Pound Sterling Price News and Forecast: GBP/USD - Caution before placing any aggressive bets

FXStreet Team FXStreet

GBP/USD Forecast: Near-term outlook remains uncertain ahead of UK-EU Brexit negotiations

The GBP/USD pair failed to capitalize on its early uptick on Thursday, rather met with some fresh supply near the 1.2950 region and dropped to one-week lows. The British pound started losing ground after the UK published its mandate outlining its priorities for trade talks with the European Union. The document stated that the British Prime Minister Boris Johnson could walk away from trade talks in June unless there is the "broad outline" of an agreement.

GBP/USD: Caution before placing any aggressive bets

Nothing seems to have changed much for the pair and the near-term bias remains tilted in favour of bearish traders. However, the fact that the cable has struggled to capitalize on its move in either direction warrants some caution before placing any aggressive bets, FXStreet’s Haresh Menghani briefs.

GBP/USD

Overview
Today last price	1.2888
Today Daily Change	-0.0003
Today Daily Change %	-0.02
Today daily open	1.2891

Trends
Daily SMA20	1.2973
Daily SMA50	1.3028
Daily SMA100	1.2987
Daily SMA200	1.27

Levels
Previous Daily High	1.2946
Previous Daily Low	1.286
Previous Weekly High	1.3054
Previous Weekly Low	1.2849
Previous Monthly High	1.3281
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.2893
Daily Fibonacci 61.8%	1.2914
Daily Pivot Point S1	1.2852
Daily Pivot Point S2	1.2813
Daily Pivot Point S3	1.2766
Daily Pivot Point R1	1.2938
Daily Pivot Point R2	1.2985
Daily Pivot Point R3	1.3024

Author

FXStreet Team

FXStreet

EUR/USD looks apathetic around 1.1770

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