Pound Sterling Price News and Forecast: GBP/USD has been creeping steadily higher

FXStreet Team FXStreet

GBP/USD bulls moved in on the 1.3730s but has stalled

At 1.3729, GBP/USD is higher on the day so far, trading up 0.16% after climbing from a low of 1.3705. The price is stalling here but the US dollar has been on the backfoot and the pound is lapping it up. The Bank of England has been one of the more hawkish of the central banks.

GBP/USD

Overview
Today last price	1.3726
Today Daily Change	0.0023
Today Daily Change %	0.17
Today daily open	1.3703

Trends
Daily SMA20	1.348
Daily SMA50	1.3402
Daily SMA100	1.3554
Daily SMA200	1.3737

Levels
Previous Daily High	1.3749
Previous Daily Low	1.3701
Previous Weekly High	1.3599
Previous Weekly Low	1.3431
Previous Monthly High	1.355
Previous Monthly Low	1.3161
Daily Fibonacci 38.2%	1.3719
Daily Fibonacci 61.8%	1.373
Daily Pivot Point S1	1.3686
Daily Pivot Point S2	1.3669
Daily Pivot Point S3	1.3638
Daily Pivot Point R1	1.3735
Daily Pivot Point R2	1.3766
Daily Pivot Point R3	1.3783

GBP/USD: A handful of pips ahead

A handful of pips ahead of supply from $1.3782-1.3758 and a deep 88.6% Fibonacci retracement at $1.3758, GBP/USD rotated lower at the tail end of Thursday’s session. This highlights steep trendline support, drawn from the low $1.3173, Quasimodo resistance-turned support at $1.3668 and a decision point at $1.3622-1.3646.

AUD/USD hangs near three-week low, below 0.6950 as traders await US NFP report

AUD/USD hits a three-week low during the Asian session on Friday as the RBA’s dovish shift and a rout in equity markets weigh on the risk-sensitive Aussie. However, the recent slump in US bond yields to a two-month low keeps US Dollar bulls on the back foot and limits losses for the currency pair as traders look to the US NFP report for a fresh impetus.

USD/JPY bounces off three-week low; keeps the red near 157.65 as focus remains on US NFP

USD/JPY bounces off the weekly low set during the Asian session, as bears turn cautious ahead of the US NFP report due later this Friday. The upside seems limited as the recent slump in US bond yields and hopes of Iran war de-escalation undermine the US Dollar. Moreover, a hawkish BoJ and intervention risks support the Japanese Yen, capping the pair.

Gold loses the grip; $4,000 comes next on the downside

Gold sets aside two daily advances in a row on Friday, opening the door to a potential test of the key $4,000 mark per troy ounce. The precious metal’s retracement follows a decent improvement in the sentiment surrounding the US Dollar, solid NFP data and higher US Treasury yields across the board.

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

The biggest story this week was Tuesday’s US midterm elections, which saw Democrats win control of both the House and the Senate in a clear blue wave. This political shift in the US has triggered sharp price swings across the cryptocurrency market.

Week ahead – Inflation and geopolitics in focus as US political landscape shifts

Post-midterm election euphoria fizzles out as risk aversion prevails. US CPI, PPI and Fedspeak on the radar as Fed hike bets remain supported. Oil retreat pauses on mixed hopes about the ongoing conflicts.

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.