Pound Sterling Price News and Forecast: GBP/USD fades corrective pullback from 2021 bottom

FXStreet Team FXStreet

GBP/USD stays depressed around 1.3200, coronavirus, Brexit jitters poke yearly low

GBP/USD hovers around 1.3200 following a failed attempt to bounce off the 2021 bottom, marked the previous day, during the initial Asian session on Thursday. The cable pair refreshed multi-day low after the UK announced fresh measures to tame the spread of the coronavirus. Also adding to the quote’s weakness were the Brexit headlines and firmer US Treasury yields.

GBP/USD

Overview
Today last price	1.3202
Today Daily Change	-0.0023
Today Daily Change %	-0.17
Today daily open	1.3225

Trends
Daily SMA20	1.3348
Daily SMA50	1.3529
Daily SMA100	1.3655
Daily SMA200	1.3791

Levels
Previous Daily High	1.3261
Previous Daily Low	1.3161
Previous Weekly High	1.3371
Previous Weekly Low	1.3194
Previous Monthly High	1.3698
Previous Monthly Low	1.3194
Daily Fibonacci 38.2%	1.3199
Daily Fibonacci 61.8%	1.3223
Daily Pivot Point S1	1.317
Daily Pivot Point S2	1.3115
Daily Pivot Point S3	1.307
Daily Pivot Point R1	1.327
Daily Pivot Point R2	1.3316
Daily Pivot Point R3	1.3371

GBP/USD outlook: Pound extends weakness on signals of new COVID-19 restrictions

Cable lost traction and fell to new December’s low in December, coming under fresh pressure on reports that new Covid rules in the UK are imminent. Media reports suggest that PM Johnson could introduce new restrictions to curb the spread of new Omicron variant, with new measures to be implemented as early as tomorrow. This would further weaken the pound ahead of highly anticipated BoE policy meeting next week.

EUR/USD clings to humble gains around 1.1780

EUR/USD manages to reverse Tuesday’s pullback, sticking to daily gains around 1.1780 following an earlier bull run past 1.1800 the figure. The pair’s slight advance comes on the back of the equally marginal uptick in the US Dollar, as investors continue to closely follow developments on the trade front and news from the White House.

GBP/USD flirts with weekly tops north of 1.3500

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a marginal advance in the Greenback and a generalised improved mood in the risk-associated universe. Meanwhile, the US tariff narrative continues to dictate the mood among market participants.

Gold picks up pace, focus on $5,200

Gold buyers are stepping back in on Wednesday, with sights set on $5,200 and potentially higher, after Tuesday’s pullback from monthly highs. The yellow metal’s recovery follows some loss of momentum in the US Dollar after Trump’s SOTU speech failed to deliver fresh impetus and AI-related jitters continue to fade.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

Nvidia remains at the heart of the AI boom

Nvidia remains at the heart of the AI boom, with Q4 revenue projected near $65.6–66.1 billion, nearly 70% higher year-over-year. But investors are watching cash flow, leverage, and broader AI adoption. Growth is strong, but the AI stress isn’t over.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.