Pound Sterling Price News and Forecast: GBP/USD hits resistance at 1.1400 after a 300-pip rally


GBP/USD bulls take a breather around 1.1330 with eyes on US Retail Sales, Michigan CSI

GBP/USD seesaws near 1.1330 as bulls await fresh catalysts to extend the biggest daily jump in two weeks. In doing so, the Cable pair pauses the two-day uptrend around the weekly top. A slight clarity on the UK government’s mini-budget, as well as the US dollar’s broad declines, could be linked to the quote’s latest run-up.

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GBP/USD

Overview
Today last price 1.1302
Today Daily Change -0.0022
Today Daily Change % -0.19
Today daily open 1.1324
 
Trends
Daily SMA20 1.1151
Daily SMA50 1.1532
Daily SMA100 1.1862
Daily SMA200 1.249
 
Levels
Previous Daily High 1.1381
Previous Daily Low 1.1058
Previous Weekly High 1.1496
Previous Weekly Low 1.1055
Previous Monthly High 1.1738
Previous Monthly Low 1.0339
Daily Fibonacci 38.2% 1.1257
Daily Fibonacci 61.8% 1.1181
Daily Pivot Point S1 1.1127
Daily Pivot Point S2 1.0931
Daily Pivot Point S3 1.0804
Daily Pivot Point R1 1.1451
Daily Pivot Point R2 1.1577
Daily Pivot Point R3 1.1774

 

GBP/USD’s rally from 1.1050 hits resistance right below 1.1400

The pound seems to be taking a breather as the impressive 300-pip rally from the 1.1060 area has found sellers at 1.1380 before pulling back to the lower range of 1.1300. The pound remains positive on daily charts after having appreciated beyond 3% over the last two days.

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