Pound Sterling Price News and Forecast: GBP/USD closes in on 1.4000 as focus shifts to US PMI data


GBP/USD Forecast: Recovery looks healthy and targets 1.4000

The sterling appreciates for the third session in a row vs. the greenback and lifts GBP/USD to the area just shy of the psychological barrier at 1.4000 the figure.

Following the sharp selloff to the 1.3800 neighbourhood in the wake of the FOMC event and its impact on the risk complex, Cable managed to regain positive footing and already trades at shouting distance from the key 1.4000 barrier. Read more...

GBPUSD

GBP/USD closes in on 1.4000 as focus shifts to US PMI data

The GBP/USD pair capitalized on the broad selling pressure surrounding the greenback and closed the last two days in the positive territory. On Wednesday, the pair continues to edge higher and was last seen trading at its highest level in six days at 1.3988, rising 0.3% on a daily basis.

Earlier in the day, the data from the UK showed that the Markit Manufacturing PMI retreated to 64.2 in June's preliminary reading, compared to analysts' estimate of 64. Meanwhile, Irish national broadcaster RTE reported on Wednesday that the EU member states have agreed to grant the UK a three-month extension to the Northern Irelan protocol and helped the GBP preserve its strength. Read more...

GBP/USD: Upside potential limited to the 1.42 level – Credit Suisse

Economists at Credit Suisse retain a 0.8400 target in EUR/GBP ahead of this week’s Bank of England meeting. However, they see GBP/USD upside potential limited to 1.4200.

“Markets expect more of the same from chief economist Andy Haldane but also do not expect any other MPC members to change their minds either, and the base rate is expected to remain unchanged at 0.10% alongside an unchanged asset purchase target.” Read more...

GBP/USD

Overview
Today last price 1.3984
Today Daily Change 0.0039
Today Daily Change % 0.28
Today daily open 1.3945
 
Trends
Daily SMA20 1.4092
Daily SMA50 1.4029
Daily SMA100 1.3943
Daily SMA200 1.3609
 
Levels
Previous Daily High 1.3964
Previous Daily Low 1.386
Previous Weekly High 1.4133
Previous Weekly Low 1.3792
Previous Monthly High 1.4234
Previous Monthly Low 1.3801
Daily Fibonacci 38.2% 1.3924
Daily Fibonacci 61.8% 1.39
Daily Pivot Point S1 1.3883
Daily Pivot Point S2 1.382
Daily Pivot Point S3 1.3779
Daily Pivot Point R1 1.3986
Daily Pivot Point R2 1.4026
Daily Pivot Point R3 1.4089

 

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