Pound Sterling Price News and Forecast: GBP/USD flirts with three-week lows, around 1.3785-80 area

FXStreet Team FXStreet

GBP/USD Forecast: Inevitable break below critical support? King Dollar seems unstoppable

An 8.8% annual pay rise – that is what British workers have received, on average – but that is likely insufficient to battle King Dollar as fears of the Federal Reserve are on the rise.

Britain's latest jobs report showed an impressive 8.8% increase in average earnings, but officials were quick to note that it is based on "base effects" – low salary growth this time last year. Pound bulls were likely impressed by the UK's low Unemployment Rate of 4.7% in June, also better than expected, but less delighted with the meager decrease in jobless claims in July. The Claimant Count Change dropped by only 7,800 against 84,100 projected. Read more...

GBP/USD Price Analysis: Flirts with three-week lows, around 1.3785-80 area

The GBP/USD pair extended the previous day's pullback from the 1.3875-80 resistance zone and witnessed some selling for the second consecutive day. The downward momentum dragged the pair to three-week lows, around the 1.3785 region during the first half of the European session.

Looking at the technical picture, the recent pullback from the vicinity of the 1.4000 psychological mark constituted the formation of a bearish double-top on the daily chart. This, along with the overnight rejection near a descending triangle support breakpoint, supports prospects for a further near-term depreciating move. Read more...

GBP/USD keeps the red near multi-week lows, below 1.3800 mark post-US data

The GBP/USD pair remained depressed below the 1.3800 mark, or multi-week lows and failed to gain any respite from disappointing US macro data.

The pair extended the previous day's rejection slide from the 1.3875-80 supply zone and witnessed some follow-through selling for the second successive session on Tuesday. The British pound was being pressured by worries that job losses will rise after the furlough scheme ends in September. Read more...

GBP/USD

Overview
Today last price	1.3775
Today Daily Change	-0.0069
Today Daily Change %	-0.50
Today daily open	1.3844

Trends
Daily SMA20	1.3844
Daily SMA50	1.3882
Daily SMA100	1.3928
Daily SMA200	1.3782

Levels
Previous Daily High	1.3879
Previous Daily Low	1.3828
Previous Weekly High	1.3894
Previous Weekly Low	1.3791
Previous Monthly High	1.3984
Previous Monthly Low	1.3572
Daily Fibonacci 38.2%	1.3847
Daily Fibonacci 61.8%	1.3859
Daily Pivot Point S1	1.3822
Daily Pivot Point S2	1.38
Daily Pivot Point S3	1.3771
Daily Pivot Point R1	1.3873
Daily Pivot Point R2	1.3901
Daily Pivot Point R3	1.3924

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 rebounds after falling toward 1.1700

EUR/USD gains traction and trades above 1.1730 in the American session, looking to end the week virtually unchanged. The bullish opening in Wall Street makes it difficult for the US Dollar to preserve its recovery momentum and helps the pair rebound heading into the weekend.

GBP/USD steadies below 1.3400 as traders assess BoE policy outlook

Following Thursday's volatile session, GBP/USD moves sideways below 1.3400 on Friday. Investors reassess the Bank of England's policy oıtlook after the MPC decided to cut the interest rate by 25 bps by a slim margin. Meanwhile, the improving risk mood helps the pair hold its ground.

Gold stays below $4,350, looks to post small weekly gains

Gold struggles to gather recovery momentum and stays below $4,350 in the second half of the day on Friday, as the benchmark 10-year US Treasury bond yield edges higher. Nevertheless, the precious metal remains on track to end the week with modest gains as markets gear up for the holiday season.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid bearish market conditions

Bitcoin (BTC) is edging higher, trading above $88,000 at the time of writing on Monday. Altcoins, including Ethereum (ETH) and Ripple (XRP), are following in BTC’s footsteps, experiencing relief rebounds following a volatile week.

How much can one month of soft inflation change the Fed’s mind?

One month of softer inflation data is rarely enough to shift Federal Reserve policy on its own, but in a market highly sensitive to every data point, even a single reading can reshape expectations. November’s inflation report offered a welcome sign of cooling price pressures.

XRP rebounds amid ETF inflows and declining retail demand demand

XRP rebounds as bulls target a short-term breakout above $2.00 on Friday. XRP ETFs record the highest inflow since December 8, signaling growing institutional appetite.