Pound Sterling Price News and Forecast: GBP/USD from overbought to oversold

FXStreet Team FXStreet

What’s next after GBP/USD bearish pullback reaches 1.39?

The GBP/USD made a bearish reversal as expected in our video analysis. The main question is whether the uptrend is over or is it just a retracement?

This article analyses what future price patterns are critical for answering this key question. The GBP/USD bearish retracement was expected. But the impulsiveness of the decline is very strong, which is 1 of the main reasons for the potential end of the uptrend. Read more ...

GBP/USD Forecast: From overbought to oversold, sterling has room to lick its wounds

On the fast lane – GBP/USD has reversed all its gains and some more, in a 300-pips+ slide. Apart from profit-taking, the fall was driven by the rout in bond markets, especially in the US. Prospects of stronger growth and perhaps overheating inflation – that Federal Reserve officials dismissed – have finally triggered a sharper move.

Higher returns on solid US debt make the dollar more attractive and the fall in stocks pushed additional funds toward the safe-haven greenback. Central banks in Europe, Australia, and Japan are uncomfortable with higher returns on debt and the Fed has yet to react. Will yields continue rising and pushing the dollar higher? Read more...

GBP/USD Price Analysis: Break below 1.3900 mark should pave way for further losses

The GBP/USD pair witnessed some heavy selling for the second consecutive session on Friday and dropped to over one-week lows during the early European session.

The sharp corrective slide from almost three-year tops stalled near the 1.3900 confluence support amid oversold RSI on intraday charts. The mentioned level comprises the 50% Fibonacci level of the post-BoE strong positive move and 100-period SMA on the 4-hourly chart. This should now act as a key pivotal point for intraday traders. Read more...

GBP/USD

Overview
Today last price	1.3922
Today Daily Change	-0.0085
Today Daily Change %	-0.61
Today daily open	1.4007

Trends
Daily SMA20	1.3855
Daily SMA50	1.3701
Daily SMA100	1.3447
Daily SMA200	1.3121

Levels
Previous Daily High	1.4182
Previous Daily Low	1.4
Previous Weekly High	1.4036
Previous Weekly Low	1.383
Previous Monthly High	1.3759
Previous Monthly Low	1.3451
Daily Fibonacci 38.2%	1.407
Daily Fibonacci 61.8%	1.4113
Daily Pivot Point S1	1.3944
Daily Pivot Point S2	1.3881
Daily Pivot Point S3	1.3762
Daily Pivot Point R1	1.4126
Daily Pivot Point R2	1.4245
Daily Pivot Point R3	1.4308

Author

FXStreet Team

FXStreet

EUR/USD remains bid near 1.1650 post-US ADP

Finally some respite for the risk complex see EUR/USD partially recover from the recent steep sell-off, this time hovering around the 1.1650 zone amid decent gains in a context of renewed selling pressure on the US Dollar. However, the duration and extension of this bounce should be put to the test amid the unabated tensions in the Middle East.

GBP/USD meets resistance around 1.3400

In line with its risk-linked peers, GBP/USD stages a modest comeback on Wednesday, although meeting some resistance around the 1.3400 neighbourhood. Cable’s humble recovery comes on the back of the fresh downward bias in the Greenback amid a marginal improvement in the global sentiment and steady geopolitical effervescence.

Gold flirts with $5,200 amid safe haven demand

Gold partially fades Tuesday’s sharp pullback, regaining the $5,200 mark per troy ounce on the back of the resurgence of investors’ demand for the safe-haven space. The precious metal remains well propped up by the deterioration of the geopolitical scenario in the Middle East, while the softer tone in the US Dollar collaborates with the uptick.