Pound Sterling Price News and Forecast: GBP/USD hits weekly highs, remains limited below 1.3640


GBP/USD hits weekly highs, remains limited below 1.3640

The GBP/USD pair rose to 1.3637, after the beginning of the American session reaching the highest level in a week. Later the pair pulled back toward 1.3600 but still was holding onto gains, for the third consecutive day and about to post the highest close in a month. The pound remains strong and is also up versus the euro as EUR/GBP trades under 0.8350, at the lowest in two weeks after higher-than-expected UK inflation data and also amid concerns regarding the Ukrainian border. Read more...

GBP/USD

Overview
Today last price 1.3619
Today Daily Change 0.0026
Today Daily Change % 0.19
Today daily open 1.3593
 
Trends
Daily SMA20 1.3521
Daily SMA50 1.3481
Daily SMA100 1.3505
Daily SMA200 1.3694
 
Levels
Previous Daily High 1.3601
Previous Daily Low 1.3531
Previous Weekly High 1.3644
Previous Weekly Low 1.3491
Previous Monthly High 1.3749
Previous Monthly Low 1.3358
Daily Fibonacci 38.2% 1.3574
Daily Fibonacci 61.8% 1.3558
Daily Pivot Point S1 1.3549
Daily Pivot Point S2 1.3505
Daily Pivot Point S3 1.348
Daily Pivot Point R1 1.3619
Daily Pivot Point R2 1.3645
Daily Pivot Point R3 1.3688

 

GBP/USD Forecast: Souring market mood could drag pound below 1.3560

GBP/USD has closed in the positive territory on Wednesday but lost its bullish momentum after testing 1.3600. Geopolitical headlines continue to drive the market action and the British pound faces a two-way risk amid the uncertainty surrounding the Russia-Ukraine conflict. During the Asian trading hours, reports claiming that Ukraine has shelled separatists' positions in east Ukraine caused safe-haven flows to dominate the markets. Ukraine quickly denied these claims and the Ukrainian military recently reported that Russian occupying forces fired on a village in the Luhansk region. Read more...

GBP/USD Analysis: Upside remains capped amid Russia-Ukraine stand-off

The GBP/USD pair built on the previous day's late rebound from the 1.3485 region, or a two-week low and gained some follow-through traction on Wednesday. The momentum pushed the pair to a fresh weekly high and was sponsored by a combination of factors. Russia announced that it is moving troops away from the Ukrainian border after the completion of military exercises. This helped ease fears about a full-blown conflict between Russia and the West and continued undermining the safe-haven US dollar. On the other hand, the British pound drew support from hotter-than-expected UK consumer inflation figures, which boosted bets for additional interest rate hikes by the Bank of England. Read more...

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD: Extra gains in the pipeline above 0.6520

AUD/USD: Extra gains in the pipeline above 0.6520

AUD/USD partially reversed Tuesday’s strong pullback and regained the 0.6500 barrier and beyond in response to the sharp post-FOMC pullback in the Greenback on Wednesday.

AUD/USD News

EUR/USD meets support around 1.0650

EUR/USD meets support around 1.0650

EUR/USD managed to surpass the key 1.0700 barrier in response to the intense retracement in the US Dollar in the wake of the Fed’s interest rate decision and Chair Powell’s press conference.

EUR/USD News

Gold surpasses $2,300 as Dollar tumbles

Gold surpasses $2,300 as Dollar tumbles

The precious metal maintains its constructive stance and trespasses the $2,300 region on Wednesday after the Federal Reserve left its FFTR intact, matching market expectations.

Gold News

Bitcoin price reclaims $59K as Fed leaves rates unchanged

Bitcoin price reclaims $59K as Fed leaves rates unchanged

The market was at the edge of its seat on Wednesday to see whether the US Federal Reserve (Fed) would cut interest rates during the Federal Open Market Committee (FOMC) meeting. 

Read more

The market welcomes the Fed's statement

The market welcomes the Fed's statement

The market has welcomed the Fed statement, and the S&P 500 is higher in its aftermath, the dollar is lower and Treasury yields are falling. There is still only one cut priced in by the Fed.

Read more

Forex MAJORS

Cryptocurrencies

Signatures