Pound Sterling Price News and Forecast: GBP/USD eyeing a test of last week’s lows just above 1.3700


GBP/USD eyeing a test of last week’s lows just above 1.3700

GBP/USD has fallen back to fresh lows of the day in recent trade in the 1.3720s, weighed amid a broad pick up in the fortunes of the US dollar versus all of its G10 counterparts. The pair now trades lower by around 0.7% or about 90 pips. As cable has slipped to fresh lows of the day and looks to test last week’s lows around the 1.3700 level, the Dollar Index (DXY) has advanced back towards the 92.50 mark and is now back above its 200DMA. 

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GBP/USD

Overview
Today last price 1.3735
Today Daily Change -0.0089
Today Daily Change % -0.64
Today daily open 1.3824
 
Trends
Daily SMA20 1.3845
Daily SMA50 1.3853
Daily SMA100 1.3672
Daily SMA200 1.3315
 
Levels
Previous Daily High 1.3919
Previous Daily Low 1.3802
Previous Weekly High 1.3853
Previous Weekly Low 1.3706
Previous Monthly High 1.4017
Previous Monthly Low 1.3671
Daily Fibonacci 38.2% 1.3847
Daily Fibonacci 61.8% 1.3874
Daily Pivot Point S1 1.3778
Daily Pivot Point S2 1.3732
Daily Pivot Point S3 1.3661
Daily Pivot Point R1 1.3895
Daily Pivot Point R2 1.3965
Daily Pivot Point R3 1.4011

 

GBP/USD Forecast: Further slides on the table

The GBP/USD plunged to 1.3728, as several factors combined to put pressure on the pound. The March UK Markit Service PMI came in at 56.3, below the 56.8 expected, although still within expansion levels. The European Medicines Agency finalized its review of the AstraZeneca vaccine and concluded that blood clots are a “very rare side effect” of the shot. The UK said that the risk of blood clots is higher for under-30s, and the local authority recommended providing a different vaccine for that age group.  Meanwhile, the UK has started using the Moderna vaccine after buying 17 million doses of the jab.

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