Pound Sterling Price News and Forecast: GBP/USD keeps bounce off four-month low

FXStreet Team FXStreet

GBP/USD Price Analysis: GBP/USD bears on the prowl, 1.30 vulnerable

GBP/USD is stalling in the sell-off as the price moves into what could be deemed as a solid longer-term demand area. However, there is room to go with 1.2850 in focus for the days and weeks ahead. In the meantime, there are prospects of a bullish correction as per the daily chart.

GBP/USD keeps bounce off four-month low around mid-1.3000s ahead of Fed

GBP/USD treads water around 1.3040-50 amid anxious market conditions during Wednesday’s Asian session. The cable pair snapped a three-day downtrend to bounce off the lowest levels since November 2021 following the upbeat UK jobs report. Also on the positive side was the US dollar’s retreat amid pre-Fed caution.

GBP/USD

Overview
Today last price	1.3053
Today Daily Change	0.0011
Today Daily Change %	0.08
Today daily open	1.3042

Trends
Daily SMA20	1.3331
Daily SMA50	1.3466
Daily SMA100	1.3438
Daily SMA200	1.3615

Levels
Previous Daily High	1.3089
Previous Daily Low	1.3
Previous Weekly High	1.3246
Previous Weekly Low	1.3028
Previous Monthly High	1.3644
Previous Monthly Low	1.3273
Daily Fibonacci 38.2%	1.3055
Daily Fibonacci 61.8%	1.3034
Daily Pivot Point S1	1.2999
Daily Pivot Point S2	1.2956
Daily Pivot Point S3	1.2911
Daily Pivot Point R1	1.3087
Daily Pivot Point R2	1.3132
Daily Pivot Point R3	1.3176

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD surges to multi-day peaks past 1.3250

GBP/USD leaves behind Friday’s small pullback and advances past 1.3250 level, or five-day highs, on Monday. Cable’s upside follows extra losses in the Greenback, while traders continue to assess the geopolitical front and upcoming key events.

EUR/USD picks up extra pace north of 1.1400

EUR/USD extends its recovery past 1.1400 the figure as the NA session draws to a close on Monday. Indeed, the pair advances for the third straight day amid the persistent offered bias in the US Dollar. Meanwhile, market participants keep gearing up for the ECB Forum in Sintra and the release of critical US labour market data.

Gold struggles to attract investors

Gold remains under marked selling pressure, holding on just above the key $4,000 mark per troy ounce at the beginning of the week. The precious metal reverses two daily advances in a row as renewed effervescence in the Middle East revive inflation concerns and bolster Fed rate hike expectations.

Strategy unveils plan allowing Bitcoin sales to fund stock buybacks, dividends and reserves

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Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.