Pound Sterling Price News and Forecast: GBP/USD keeps the red below 1.2000 mark amid modest USD

FXStreet Team FXStreet

Daily technical and trading outlook – GBP/USD

GBP/USD - 1.2047.. Although cable swung sideways in Asia, price rallied on short covering in sterling following news of UK PM's resignation, price rose to 1.2024 b4 retreating to 1.1949 in NY but later hit session highs of 1.2030.

On the bigger picture, despite cable's brief break of 2016 post-Brexit low of 1.1491 to a near 35-year trough of 1.1412 in mid-Mar 2020 on safe-haven USD's demand following free fall in global stocks, price rallied to 1.3686 on the last trading day of 2020 following a last-minute EU-UK trade deal, then to a near 34-month 1.4241 peak in Feb suggests a major low is made. Having said that, cable's erratic fall to 1.2162 in Dec 2021 n then continued decline this year to a 2-year bottom at 1.1934 in mid-Jun n Tue's break there suggests correction fm 1.1412 is over n may head to 1.1800, 'bullish convergences' on daily indicators should keep price abv 1.1682. Only abv 1.2189 risks stronger gain twd 1.2332. Read more ...

GBP/USD keeps the red below 1.2000 mark amid modest USD uptick post-NFP

The GBP/USD pair struggled to capitalize on its intraday bounce from the 1.1920 region and attracted fresh selling in reaction to mostly upbeat US employment details. The pair was last seen trading around the 1.1985-1.1980 region, down nearly 0.35% during the early North American session.

The intraday US dollar pullback from a two-decade high was quickly bought into after the headline NFP showed that the US economy added 372K jobs in June. This was slightly below the previous month's downwardly revised reading of 384K, though it was well above the 268K anticipated. Adding to this, the Unemployment Rate held steady at 3.6%, as expected, and cemented expectations for a more aggressive policy tightening by the Fed. Read more ...

GBP/USD

Overview
Today last price	1.2032
Today Daily Change	0.0008
Today Daily Change %	0.07
Today daily open	1.2024

Trends
Daily SMA20	1.217
Daily SMA50	1.2353
Daily SMA100	1.274
Daily SMA200	1.3123

Levels
Previous Daily High	1.203
Previous Daily Low	1.1909
Previous Weekly High	1.2332
Previous Weekly Low	1.1976
Previous Monthly High	1.2617
Previous Monthly Low	1.1934
Daily Fibonacci 38.2%	1.1984
Daily Fibonacci 61.8%	1.1955
Daily Pivot Point S1	1.1945
Daily Pivot Point S2	1.1867
Daily Pivot Point S3	1.1824
Daily Pivot Point R1	1.2066
Daily Pivot Point R2	1.2108
Daily Pivot Point R3	1.2187

Author

FXStreet Team

FXStreet

EUR/USD remains heavy near 1.1600 after hot EU inflation data

EUR/USD remains heavily offered near 1.1600, six-week lows, in the European session on Tuesday. The pair fails to find any inspiration from a surprise pick up in Eurozone inflation for February, as the US Dollar continues to attract safe haven flows amid escalating geopolitical tensions in the Middle East.

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold falls below $5,300 as stronger USD counter Middle East woes

Gold attracts some intraday selling and falls below $5,300 on Tuesday. The US Dollar climbs to a fresh high since January 20 and turns out to be a key factor exerting downward pressure on the commodity. However, concerns about a broader regional conflict in the Middle East continue to weigh on investors' sentiment and underpin demand for the traditional safe-haven bullion.

Stellar risks deeper losses as derivatives metrics turn negative

Stellar is trading red below $0.16 at the time of writing on Tuesday, after a slight recovery the previous day. Weakening derivatives data caps the recovery, while an unfavorable technical outlook projects a deeper correction for the XLM token in the upcoming days.

Middle East conflict ramps up a gear as energy price spike rips through markets

It’s another risk off day as geopolitical headwinds continue to batter financial markets. Although markets calmed during the US session and US stocks managed to post gains on Monday, this has not fed through to the European session, and stocks and bonds are sharply lower for a second day.

Hyperliquid Price Forecast: HYPE rises on commodities demand amid US-Iran war

Hyperliquid (HYPE) steadies above $33 at press time on Tuesday, marking its fourth consecutive day of recovery in a broadly volatile market due to the ongoing US-Israel strikes on Iran.