GBP/USD Weekly Forecast: Eyes 21 DMA on a technical rebound ahead of critical US, UK events
GBP/USD put an end to its three-week losing streak and staged a strong comeback from roughly four-decade lows of 1.1405. The US dollar correction and economic stimulus measures unveiled by the new UK PM Liz Truss saved the day for cable bulls. Will the rebound extend into a big week ahead? Read more...
GBP/USD Forecast: Bulls to retain control as long as 1.1600 holds
GBP/USD has gathered bullish momentum following Thursday's indecisive action and advanced to its strongest level in over a week above 1.1600. The pair remains on track to snap a three-week losing streak and additional recovery gains could be witnessed as long as buyers continue to defend 1.1600. During the European trading hours on Thursday, GBP/USD gained traction after British Prime Minister Liz Truss announced that they will introduce a two-year "energy price guarantee." Truss explained that a typical household will pay no more than £2,500 a year on energy bills, translating into an annual saving of roughly £1,000 based on October prices. Read more...
GBP/USD jumps to near two-week high, closer to mid-1.1600s amid notable USD selling
The GBP/USD pair gains strong positive traction on Friday and continues scaling higher through the early part of the European session. The momentum lifts spot prices to a one-and-half-week high, closer to mid-1.1600s, and is sponsored by the heavily offered tone surrounding the US dollar. A goodish recovery in the risk sentiment - as depicted by a positive tone around the equity markets - drags the safe-haven buck further away from a two-decade high touched earlier this week. In fact, the key USD Index, which measures the greenback's performance against a basket of currencies, dives to a fresh monthly low and turns out to be a key factor behind the GBP/USD pair’s intraday momentum to the upside. Read more...
|Today last price||1.1591|
|Today Daily Change||0.0086|
|Today Daily Change %||0.75|
|Today daily open||1.1505|
|Previous Daily High||1.1561|
|Previous Daily Low||1.146|
|Previous Weekly High||1.1761|
|Previous Weekly Low||1.1496|
|Previous Monthly High||1.2294|
|Previous Monthly Low||1.1599|
|Daily Fibonacci 38.2%||1.1499|
|Daily Fibonacci 61.8%||1.1522|
|Daily Pivot Point S1||1.1456|
|Daily Pivot Point S2||1.1408|
|Daily Pivot Point S3||1.1356|
|Daily Pivot Point R1||1.1557|
|Daily Pivot Point R2||1.1609|
|Daily Pivot Point R3||1.1658|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.