Pound Sterling Price News and Forecast: GBP/USD kick-starts the key week by challenging bears around mid-April lows


GBP/USD defends 1.3800 as covid, Brexit woes battle pre-BOE caution

GBP/USD bears take a breather around 1.3800, following the heaviest weekly fall since September 2020, amid a quiet Asian session on Monday. While the broad US dollar strength, mainly due to the Fed rate hike concerns, could be cited as the key catalyst behind the cable’s recent weakness, Brexit deadlock and a spike in the UK’s cases concerning Delta variant of the covid also weigh on the quote. Even so, the pair traders await this week’s Bank of England (BOE) meeting for fresh clues.

Read More ...

GBP/USD

Overview
Today last price 1.382
Today Daily Change 0.0012
Today Daily Change % 0.09
Today daily open 1.3808
 
Trends
Daily SMA20 1.4114
Daily SMA50 1.4021
Daily SMA100 1.3938
Daily SMA200 1.3598
 
Levels
Previous Daily High 1.3945
Previous Daily Low 1.3792
Previous Weekly High 1.4133
Previous Weekly Low 1.3792
Previous Monthly High 1.4234
Previous Monthly Low 1.3801
Daily Fibonacci 38.2% 1.385
Daily Fibonacci 61.8% 1.3886
Daily Pivot Point S1 1.3752
Daily Pivot Point S2 1.3696
Daily Pivot Point S3 1.36
Daily Pivot Point R1 1.3904
Daily Pivot Point R2 1.4001
Daily Pivot Point R3 1.4057

 

GBP/USD Forecast: Delta variant hurting the pound

The GBP/USD pair traded as low as 1.3791, its lowest since mid-April, ending the week a couple of pips above such a level. The pound fell for a fourth consecutive day, not only pressured by resurgent dollar demand but also by tepid UK data. On Friday, the country published May Retail Sales which were down 1.4% MoM, missing an expected 1.6% advance. Annual sales were up 24.6%, well below the previous 42.4%.

Read More ...

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Teases 21-DMA support inside falling channel

EUR/USD edges lower around short-term support after five-day losing streak. EUR/USD holds lower ground near 1.1835, around the seven-day bottom, amid Friday’s initial Asian session.

EUR/USD News

GBP/USD: Hangs in the balance of NFP, breakout imminent

Cable rose as high as $1.3949 after the BoE decision but was unable to break the resistance needed for an upside continuation in the daily time frame. Cable rose as high as $1.3949 after the BoE decision but was unable to break the resistance needed for an upside continuation in the daily time frame. 

GBP/USD News

Gold on the brink of a significant breakout around NFP

Gold is now in the balance of the NFP numbers on Friday. The market is taking into consideration a more hawkish tilt at the Fed. Technically, the price is at a critical juncture and a breakout could be imminent one way or the other.

Gold News

ICON looks extremely bullish in the long-term as ICX price targets $3

A brief technical and on-chain analysis on ICON price. Here, FXStreet's analysts evaluate where ICX could be heading next as it looks ready to continue surging.

Read more

US July NFP: Analyzing major pairs' reaction to NFP surprises

NFPs in US is expected to rise by 870,000 in July. There is a strong correlation between surprising NFP prints and major pairs' immediate movements. Investors are likely to react to a disappointing NFP more strongly than a positive reading.    

Read more

Forex MAJORS

Cryptocurrencies

Signatures