Pound Sterling Price News and Forecast: GBP/USD falters ahead of 3-week-old descending channel resistance

GBP/USD Forecast: Downtrend resistance set to crush another recovery amid plethora of pound problems

A cat is said to have nine souls and also the volatile found its mojo amid end-of-quarter flows – but it may be yet another "dead-cat bounce." Money managers' adjustment of portfolios sent sterling surging on Tuesday, with a 100+ pip bounce – yet it failed to break above the downtrend resistance line. 

GBP/USD also benefited from dollar weakness, stemming from diminishing demand for the safe-haven currency. Stocks advanced and the greenback gave ground as the Conference Board's Consumer Confidence measure surprised with a stronger than expected bounce to over 98 points. Read More...



GBP/USD Analysis: Falters ahead of 3-week-old descending channel resistance

The GBP/USD pair witnessed a dramatic intraday turnaround on Tuesday and rallied around 150 pips from the vicinity of monthly lows set in the previous session. The British pound remained depressed through the first half of the day amid doubts over Britain’s ability to pay for its planned massive boost to public spending. This comes amid persistent Brexit uncertainties, which coupled with weaker-than-expected UK GDP print further took its toll on the sterling. The final GDP report released by the Office of National Statistics showed that the economy contracted by 2.2% during the first quarter of 2020, more than 2.0% originally estimated and marked the largest quarterly contraction since 1979. Read More...



GBP/USD recovers lost ground; struggles to find acceptance above 1.2400 mark

The GBP/USD pair rallied over 50 pips from the Asian session lows and jumped to fresh weekly tops, around the 1.2410-15 region in the last hour.

Despite concerns about the ever-increasing coronavirus cases across the world, the US dollar struggled to attract any haven flows and remained depressed through the first half of Wednesday's trading action. This, in turn, assisted the GBP/USD pair to attract some dip-buying reversed an early dip to the 1.2360-55 region. Read More...


Today last price 1.2397
Today Daily Change -0.0004
Today Daily Change % -0.03
Today daily open 1.2401
Daily SMA20 1.2527
Daily SMA50 1.2415
Daily SMA100 1.2472
Daily SMA200 1.269
Previous Daily High 1.2402
Previous Daily Low 1.2258
Previous Weekly High 1.2543
Previous Weekly Low 1.2314
Previous Monthly High 1.2813
Previous Monthly Low 1.2252
Daily Fibonacci 38.2% 1.2347
Daily Fibonacci 61.8% 1.2313
Daily Pivot Point S1 1.2305
Daily Pivot Point S2 1.221
Daily Pivot Point S3 1.2161
Daily Pivot Point R1 1.2449
Daily Pivot Point R2 1.2498
Daily Pivot Point R3 1.2593



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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI drops to fresh weekly lows below $39 amid virus risks, IEA forecast

WTI (August futures on Nymex) extends the steep declines seen on Thursday to drops over 1.50% in the European session this Friday. The oil bears breach the 39 level to hit the lowest levels in eight days at 38.76.

Oil News