Pound Sterling Price News and Forecast: GBP/USD dips under 1.3300

FXStreet Team FXStreet

GBP/USD dips under 1.3300 as sterling traders worry about impact of UK Omicron outbreak

Sterling has been under pressure during US trading hours, pulling back from earlier session highs above 1.3350 to fresh session lows under 1.3300. That leaves the pair only a few pips above annual lows printed last Friday at 1.3278. Recent weakness could be a reflection of fears that the Omicron Covid-19 variant, multiple infections of which have now been picked up across the UK, poses downside risks to the UK’s economic recovery this winter. Read more...

GBP/USD

Overview
Today last price	1.3309
Today Daily Change	-0.0044
Today Daily Change %	-0.33
Today daily open	1.3353

Trends
Daily SMA20	1.3466
Daily SMA50	1.3586
Daily SMA100	1.3695
Daily SMA200	1.3821

Levels
Previous Daily High	1.3361
Previous Daily Low	1.3278
Previous Weekly High	1.3457
Previous Weekly Low	1.3278
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3329
Daily Fibonacci 61.8%	1.331
Daily Pivot Point S1	1.3301
Daily Pivot Point S2	1.3248
Daily Pivot Point S3	1.3218
Daily Pivot Point R1	1.3383
Daily Pivot Point R2	1.3413
Daily Pivot Point R3	1.3466

GBP/USD Forecast: British pound could eye 1.3400 as next recovery target

GBP/USD has recovered modestly after dipping below 1.3300 ahead of the weekend and looks to extend its technical correction toward 1.3400. On Friday, the risk-averse market environment made it difficult for the British pound to find demand. However, the sharp decline witnessed in the US Treasury bond yields weighed on the greenback and helped GBP/USD limit its losses. Although the dollar is staying resilient against its major rivals at the start of the week, GBP/USD continues to edge higher on improving risk sentiment. Read more...

GBP/USD outlook: Omicron concerns limit recovery and keep the downside at risk

Recovery attempts from new 2021 low (1.3278), posted after Omicron shock last Friday, were so far limited and unable break above Friday’s high (1.3362). Risk-sensitive pound remains influenced by fears of the impact of new coronavirus variant, keeping the downside at risk, as daily techs remain in bearish configuration, but sideways-moving momentum studies suggest the action may hold in extended consolidation before larger bears resume. Read more...

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