Pound Sterling Price News and Forecast: GBP/USD is likely to slip to near 1.3050

FXStreet Team FXStreet

GBP/USD sees a downside to monthly lows at 1.3050 as the Fed looks to return to neutral rates quickly

The GBP/USD pair is oscillating in a wider range of 1.3045-1.3106 over the last three trading sessions. The cable seems to extend losses after tumbling below the April 6 low at 1.3045 as the asset has struggled to surpass the round level resistance of 1.3100 decisively.

GBP/USD

Overview
Today last price	1.3072
Today Daily Change	-0.0005
Today Daily Change %	-0.04
Today daily open	1.3077

Trends
Daily SMA20	1.3123
Daily SMA50	1.3317
Daily SMA100	1.3368
Daily SMA200	1.3546

Levels
Previous Daily High	1.3107
Previous Daily Low	1.3052
Previous Weekly High	1.319
Previous Weekly Low	1.3051
Previous Monthly High	1.3438
Previous Monthly Low	1.3
Daily Fibonacci 38.2%	1.3086
Daily Fibonacci 61.8%	1.3073
Daily Pivot Point S1	1.305
Daily Pivot Point S2	1.3023
Daily Pivot Point S3	1.2995
Daily Pivot Point R1	1.3105
Daily Pivot Point R2	1.3133
Daily Pivot Point R3	1.316

If GBP/USD manages to hold on to the current level, a move towards the 1.31 range is expected

Looking at GBPUSD Chart, we can see its been trading in a channel since the 31st of March, bouncing between overhead resistance of 1.318 and a support level at 1.31. Earlier in today’s session, it managed to climb to the 1.316 range, moving away from yesterday’s trending around the 1.31 support level.

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