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

EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

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.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.