Pound Sterling Price News and Forecast: GBP/USD grinds lower around one week trough

FXStreet Team FXStreet

GBP/USD: Brexit woes, firmer yields favor sellers near 1.3400, UK/US PMIs eyed

GBP/USD consolidates losses made during the last two days around 1.3400 during the initial Asian session on Tuesday. While US President Joe Biden’s nomination for the Fed Chair’s position recently weighed on the cable pair, Brexit jitters and the COVID-19 fears add to the bearish bias for the quote ahead of the UK and the US preliminary PMI numbers for November.

GBP/USD

Overview
Today last price	1.3391
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	1.3391

Trends
Daily SMA20	1.3546
Daily SMA50	1.3622
Daily SMA100	1.3714
Daily SMA200	1.3833

Levels
Previous Daily High	1.3457
Previous Daily Low	1.3384
Previous Weekly High	1.3514
Previous Weekly Low	1.3396
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3412
Daily Fibonacci 61.8%	1.3429
Daily Pivot Point S1	1.3365
Daily Pivot Point S2	1.3338
Daily Pivot Point S3	1.3292
Daily Pivot Point R1	1.3437
Daily Pivot Point R2	1.3484
Daily Pivot Point R3	1.351

GBP/USD Forecast: Sellers eye a drop below 1.3400

The British pound has lost its strength ahead of the weekend and the technical outlook points to a bearish shift in GBP/USD. Investors will keep a close eye on headlines surrounding the negotiations on Brexit's Northern Ireland (NI) protocol. Following the latest talks in Brussels on Friday, UK Brexit Minister Lord David Frost said that they had not yet made substantive progress on the NI protocol issues.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.