Pound Sterling Price News and Forecast: GBP/USD keeps a downside break of monthly support line

FXStreet Team FXStreet

GBP/USD Price Analysis: Upside extension to liquidity, now in play

It is one or the other until breakeven can be achieved, but just like the following GBP/JPY analysis, cable bulls are in for an opportunity on the next bullish close. The following is an analysis of the daily and 4-hour chart which shows that the price is in the throes of the next bullish extension as the correction of the prior bullish impulse meets support.

GBP/USD: Bears look to retake controls amid Brexit woes, vaccine hopes

GBP/USD trims monthly gains while declining in the last week to re-test 1.3300. The pair awaits the Asian session’s reaction to the latest news concerning Brexit and the covid vaccine on early Monday. Although broad US dollar weakness and hopes concerning the coronavirus (COVID-19) vaccine have mainly propelled the Cable during November, bulls are turning cautious off-late as Brexit uncertainty weighs.

GBP/USD

Overview
Today last price	1.3338
Today Daily Change	0.0042
Today Daily Change %	0.32
Today daily open	1.3296

Trends
Daily SMA20	1.3209
Daily SMA50	1.3042
Daily SMA100	1.302
Daily SMA200	1.2729

Levels
Previous Daily High	1.3382
Previous Daily Low	1.3293
Previous Weekly High	1.3398
Previous Weekly Low	1.3264
Previous Monthly High	1.3177
Previous Monthly Low	1.282
Daily Fibonacci 38.2%	1.3327
Daily Fibonacci 61.8%	1.3348
Daily Pivot Point S1	1.3266
Daily Pivot Point S2	1.3235
Daily Pivot Point S3	1.3177
Daily Pivot Point R1	1.3354
Daily Pivot Point R2	1.3412
Daily Pivot Point R3	1.3443

Author

FXStreet Team

FXStreet

EUR/USD challenges 1.1700, six-week lows

EUR/USD remains under heavy downside pressire in quite a dfrreadful start to the new trading week, putting the 1.1700 support to the test amid the marked rebound in the US Dollar. The flight-so-safety environment continues to support the Greenback following the escalating conflict in the Middle East.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

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Gold climbs to levels last seen in late January past the $5,400 mark per troy ounce on Monday. The yellow metal’s strong uptick remains fuelled by incresing geopolitical tensions in the Middle East and the consequent demand for safer assets.

Bitcoin on brink of breakdown amid US-Iran war

Bitcoin (BTC) remains under pressure near the key support level of $65,700. Trading at $66,400 at the time of writing on Monday, a breakdown below this critical level would suggest a deeper correction ahead.

The week ahead: Conflict in the Middle East jolts markets

Events in the Middle East are obviously dominating financial markets this morning. The Brent crude oil price is extending gains and is higher by more than 8%, stock futures are pointing lower and the gold price is higher by more than 2%.

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