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.

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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.

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