Pound Sterling Price News and Forecast: GBP/USD holds lower ground within monthly trading range

FXStreet Team FXStreet

GBP/USD sellers attack 1.4100 amid UK’s unlock delay, Brexit woes

GBP/USD begins the week mostly unchanged around 1.4110 during the initial Asian session on Monday. In doing so, the cable seems to pay a little heed to the recent price-negative headlines concerning the Brexit and an extension to the date of lifting major coronavirus (COVID-19) activity restrictions. Even so, the cable remains pressured amid broad US dollar strength and downbeat UK news.

GBP/USD

Overview
Today last price	1.4116
Today Daily Change	0.0012
Today Daily Change %	0.09
Today daily open	1.4104

Trends
Daily SMA20	1.4157
Daily SMA50	1.4001
Daily SMA100	1.3924
Daily SMA200	1.3572

Levels
Previous Daily High	1.4185
Previous Daily Low	1.4096
Previous Weekly High	1.4191
Previous Weekly Low	1.4073
Previous Monthly High	1.4234
Previous Monthly Low	1.3801
Daily Fibonacci 38.2%	1.413
Daily Fibonacci 61.8%	1.4151
Daily Pivot Point S1	1.4072
Daily Pivot Point S2	1.4039
Daily Pivot Point S3	1.3982
Daily Pivot Point R1	1.4161
Daily Pivot Point R2	1.4218
Daily Pivot Point R3	1.4251

GBP/USD Forecast: Brexit tensions and reopening delays to hit the pound

The GBP/USD pair edged lower on Friday but held above the weekly low at 1.4072 and settled a few pips above the 1.4100 mark. Broad dollar’s strength coupled with softer-than-anticipated UK data to send the pair lower, exacerbated by Brexit and coronavirus jitters. The kingdom published April Industrial Production, which contracted by 1.3% MoM and Manufacturing Production for the same month, which was down by 0.3%. The monthly Gross Domestic Product increased by 2.3%, below the 2.4% expected.

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.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

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.