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 breaches below 1.3600, weekly troughs

GBP/USD resumes its decline, reversing Tuesday’s bullish attempt and breaking below 1.3600 the figure on Wednesday. Cable’s marked pullback follows a firm advance in the Greenback as investors continue to assess latest US PCE and GDP data as well as the geopolitical landscape.

EUR/USD challenges 1.1650, five-day lows

EUR/USD now accelerates its losses and recedes to the area of multi-day troughs around 1.1650 on Wednesday. The pair’s retracement comes on the back of a solid performance of the US Dollar in the wake of the release of July PCE data and another revision of Q2 GDP figures.

Gold pierces $4,600 as US Dollar extends gains

Gold now faces some renewed downside pressure and seems to challenge the key $4,600 mark per troy ounce on Tuesday. That said, the yellow metal’s correction comes after three daily upticks in a row, fading at the same time Tuesday’s move to fresh tops around $4,700. The stronger US Dollar and a decent rebound in US Treasury yields across the curve continue to weigh on bullion.

Bitcoin recovery stalls near $80,000 as ETF inflows mount, whale demand strengthens

Bitcoin price is trading in the green on Wednesday, holding above $78,000 while struggling to extend its recovery above the $80,000 mark. Institutional demand is strengthening, with steady inflows and BlackRock’s tax-deferred Bitcoin-to-ETF swap volume reaching $5 billion.

Nvidia: How will the company perform as its switches from a chip maker to an AI finance house?

The main event for markets this week takes place this evening, after US markets close. Nvidia, the AI giant, will report results for last quarter. Another monster report is expected. Revenues could come in above $92bn, and earnings per share could come in at $2.09.

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.