Pound Sterling Price News and Forecast: GBP/USD holds steady after hawkish BOE decision

FXStreet Team FXStreet

GBP/USD retreats from daily high towards 1.3700 as USD recovers

The GBP/USD pair flattened on Friday in the Asian trading hours following a sharp rally in the previous session. Led by the optimism of the Bank of England’s (BOE) surprise hawkish stance, the pair jumped more than 130-pips off the monthly lows near 1.3600 on super Thursday. This Friday, GBP/USD opened lower albeit recovered swiftly to touch the intraday high of 1.3736 but failed to preserve the momentum.

GBP/USD

Overview
Today last price	1.3725
Today Daily Change	0.0004
Today Daily Change %	0.03
Today daily open	1.3721

Trends
Daily SMA20	1.3775
Daily SMA50	1.379
Daily SMA100	1.3903
Daily SMA200	1.3841

Levels
Previous Daily High	1.3751
Previous Daily Low	1.3613
Previous Weekly High	1.3913
Previous Weekly Low	1.3728
Previous Monthly High	1.3958
Previous Monthly Low	1.3602
Daily Fibonacci 38.2%	1.3698
Daily Fibonacci 61.8%	1.3665
Daily Pivot Point S1	1.3639
Daily Pivot Point S2	1.3557
Daily Pivot Point S3	1.3501
Daily Pivot Point R1	1.3777
Daily Pivot Point R2	1.3833
Daily Pivot Point R3	1.3915

GBP/USD holds steady after hawkish BOE decision

The GBPUSD pair declined after the latest BOE decision. It rose to a high of 1.37000, which was substantially lower than this week’s low of 1.3600. On the four-hour chart, the MACD line has crossed over the histogram while the Relative Strength Index (RSI) has moved from the oversold level. It has also formed a double-bottom pattern. Still, there is a likelihood that the pair will resume the bearish trend in the near term.

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.

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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.

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