Pound Sterling Price News and Forecast: GBP/USD dropped the most in a week

FXStreet Team FXStreet

GBP/USD remains defensive below 1.3850, UK job data eyed

GBP/USD extends the previous day’s sluggish momentum and trades quietly on Tuesday morning. After testing the high of 1.3888 on Friday, the pair continued to remain submissive near 1.3850.

The sterling has been influenced by a combination of other factors ranging from risk appetite to covid and Brexit headlines, despite the surprise call from the Bank of England (BOE).

GBP/USD

Overview
Today last price	1.381
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	1.381

Trends
Daily SMA20	1.377
Daily SMA50	1.3807
Daily SMA100	1.3916
Daily SMA200	1.383

Levels
Previous Daily High	1.3913
Previous Daily Low	1.3804
Previous Weekly High	1.3889
Previous Weekly Low	1.3726
Previous Monthly High	1.3958
Previous Monthly Low	1.3602
Daily Fibonacci 38.2%	1.3846
Daily Fibonacci 61.8%	1.3871
Daily Pivot Point S1	1.3771
Daily Pivot Point S2	1.3733
Daily Pivot Point S3	1.3662
Daily Pivot Point R1	1.3881
Daily Pivot Point R2	1.3952
Daily Pivot Point R3	1.399

GBP/USD downside eyeing space south of $1.38 to $1.3751

In the shape of a hammer candlestick formation (bullish signal), supply-turned demand at $1.3629-1.3456 on the weekly timeframe stepped forward in July. The aforementioned zone, as you can see, remains active, welcoming an additional test mid-August. Yet, pattern traders will also note August’s move closed south of a double-top pattern’s neckline at $1.3664, consequently broadcasting a bearish warning.

Read More ...

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD nudges higher above 1.1350 on softer Fed stance, traders await US jobs data

The EUR/USD pair posts modest gains near 1.1380 during the early Asian session on Thursday. The US Dollar edges lower against the Euro on less hawkish remarks from Federal Reserve Chairman Kevin Warsh. Traders will closely monitor the US jobs data for June later on Thursday.

Gold hovers near $4,050 as bullish USD caps gains ahead of US NFP

Gold steadies following the previous day's volatile two-way price swings and trades just below $4,050 during the Asian session on Thursday as traders now look to the crucial US NFP report for fresh impetus. In the meantime, Wednesday's US economic data kept Fed rate-hike expectations elevated and continues to act as a tailwind for the US Dollar. Furthermore, the uncertainty over US-Iran talks underpins the safe-haven buck, which, in turn, should cap the bullion.

Morpho surges as Standard Chartered projects $60 price by 2030

Standard Chartered has initiated coverage of decentralized finance lending protocol Morpho, forecasting its native token could reach $60 by the end of 2030 as the sector expands and institutional adoption of onchain finance accelerates.

Warsh stays on message as inflation remains the Fed's top priority

At the ECB Forum in Sintra, Fed Chair Kevin Warsh largely followed the script, offering little to change the market’s current view on monetary policy.

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.