Pound Sterling Price News and Forecast: GBP/USD consolidates the recovery below 1.3500

FXStreet Team FXStreet

GBP/USD testing offers near 1.3500 as Brexit concerns intensify

GBP/USD appears to pause its recovery from two-month lows of 1.3424 in early Asian dealings on Monday, as Brexit concerns are seen returning, spoiling the party for the GBP trading. The 1.3500 remains a tough nut to crack for the GBP bulls, as the Irish Foreign Minister Simon Coveney warned against the UK government’s readiness to trigger Article 16 of Northern Ireland.

GBP/USD

Overview
Today last price	1.3473
Today Daily Change	-0.0026
Today Daily Change %	-0.19
Today daily open	1.3499

Trends
Daily SMA20	1.3693
Daily SMA50	1.3701
Daily SMA100	1.3761
Daily SMA200	1.3849

Levels
Previous Daily High	1.3509
Previous Daily Low	1.3424
Previous Weekly High	1.3698
Previous Weekly Low	1.3424
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3477
Daily Fibonacci 61.8%	1.3457
Daily Pivot Point S1	1.3446
Daily Pivot Point S2	1.3393
Daily Pivot Point S3	1.3361
Daily Pivot Point R1	1.353
Daily Pivot Point R2	1.3562
Daily Pivot Point R3	1.3615

GBP/USD Weekly Forecast: UK growth and US inflation data leave no room to rest after the crash

The first week of November has been one to remember – a crash of nearly 300 pips due to BOE's "close call" to refrain from raising rates and the Fed's expected, yet marginally hawkish tapering decision. Politics on both sides of the pond may now move from the back burner to the fore.

GBP/USD surges to multi-day peaks past 1.3250

GBP/USD leaves behind Friday’s small pullback and advances past 1.3250 level, or five-day highs, on Monday. Cable’s upside follows extra losses in the Greenback, while traders continue to assess the geopolitical front and upcoming key events.

EUR/USD pops to daily highs near 1.1430

EUR/USD starts the week on a positive note, climbing to as high as the 1.1430 zone, or daily tops, on Monday. The pair’s recovery comes in response to the broad-based US Dollar weakness, while investors continue to monitor developments from the Middle East ahead of the beginning of the ECB's annual forum.

Gold struggles to attract investors

Gold remains under marked selling pressure, holding on just above the key $4,000 mark per troy ounce at the beginning of the week. The precious metal reverses two daily advances in a row as renewed effervescence in the Middle East revive inflation concerns and bolster Fed rate hike expectations.

Bitcoin four-year cycle: BTC risks 75% drawdown with four months of bear market still ahead

Bitcoin price continues to trend downward below the $60,000 support zone after losing over 50% of its value since the $126,199 high in October. Bitcoin’s four-year cycle, measured from cycle tops to bottoms, suggests that four months of a bear market are still ahead.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.