Pound Sterling Price News and Forecast: GBP/USD eases from three-day high

FXStreet Team FXStreet

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 eases from three-day high, upside remains capped amid Brexit woes

The GBP/USD pair climbed to a three-day high, around the 1.3360-65 region during the mid-European session, albeit lacking follow-through.

The risk-on impulse in the markets failed to assist the safe-haven US dollar to capitalize on its modest intraday gains, rather prompted some selling at higher levels. This, in turn, was seen as a key factor that provided a modest lift to the GBP/USD pair and pushed spot prices further away from the lowest level since December 2020 touched on Friday. Read more...

GBP/USD to climb toward 1.3400 on a break above 1.3360

GBP/USD seems to have set near-term bottom around 1.3300. In the view of FXStret’s Eren Sengezer, the cable could eye 1.3400 as the next recovery target.

UK doesn't think tighter rules will be needed to combat the new coronavirus variant

“On Monday, the junior UK health minister Edward Argar said that they don't expect rules to be tightened further in the next three weeks.” Read more...

GBP/USD

Overview
Today last price	1.334
Today Daily Change	-0.0013
Today Daily Change %	-0.10
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

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD softens below 1.1750 amid ECB rate hold expectations

The EUR/USD pair declines to around 1.1730 during the early European session on Wednesday, pressured by renewed US Dollar demand. Nonetheless, the potential downside for the major pair might be limited amid the growing acceptance that the European Central Bank is done cutting interest rates.

GBP/USD gains ground above 1.3400 on UK PMI optimism

The GBP/USD pair gains momentum to around 1.3425 during the early Asian session on Wednesday. The Pound Sterling edges higher against the Greenback on the upbeat UK preliminary S&P Global Purchasing Managers' Index data. Traders will take more cues from the Fedspeak later on Wednesday.

Gold advances to near seven-week highs amid US labor market cooling

Gold price extends its upside to near seven-week highs above $4,300 during the Asian trading hours on Wednesday. The precious metal gains momentum as the US labor market remains relatively resilient but shows signs of slowing. The mixed US employment report for November reinforces bets of further rate cuts by the US Federal Reserve and weighs on the US Dollar.

Bitcoin, Ethereum and Ripple extend correction as bearish momentum builds

Bitcoin, Ethereum, and Ripple remain under pressure as the broader market continues its corrective phase into midweek. The weak price action of these top three cryptocurrencies by market capitalization suggests a deeper correction, as momentum indicators are beginning to tilt bearish.

Ukraine-Russia in the spotlight once again

Since the start of the week, gold’s price has moved lower, but has yet to erase the gains made last week. In today’s report we intend to focus on the newest round of peace talks between Russia and Ukraine, whilst noting the release of the US Employment data later on day and end our report with an update in regards to the tensions brewing in Venezuela.

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.