Pound Sterling Price News and Forecast: GBP/USD modest recovery, further gains unclear


GBP/USD approaches 1.3700 as the US dollar drops further

The GBP/USD rose further during the American session and printed a fresh daily high at 1.3694. Cable is hovering around the daily high with the positive tone intact, on the back of a sharp correction of the US dollar. The greenback accelerated the decline during the last hours as equity prices rose further.  In Wall Street, the Dow Jones is up by 0.80%, and the Nasdaq gains 0.50%. Higher US yields are not helping the dollar so far. The US 10-year yield is up 5% at 1.28%. Read more...

GBP/USD

Overview
Today last price 1.3713
Today Daily Change 0.0085
Today Daily Change % 0.62
Today daily open 1.3628
 
Trends
Daily SMA20 1.3825
Daily SMA50 1.3993
Daily SMA100 1.3929
Daily SMA200 1.3702
 
Levels
Previous Daily High 1.369
Previous Daily Low 1.3572
Previous Weekly High 1.391
Previous Weekly Low 1.3761
Previous Monthly High 1.4249
Previous Monthly Low 1.3787
Daily Fibonacci 38.2% 1.3617
Daily Fibonacci 61.8% 1.3645
Daily Pivot Point S1 1.357
Daily Pivot Point S2 1.3512
Daily Pivot Point S3 1.3452
Daily Pivot Point R1 1.3688
Daily Pivot Point R2 1.3748
Daily Pivot Point R3 1.3806

 

GBP/USD Forecast: Modest recovery, further gains unclear

The GBP/USD pair holds on to gains as Tuesday’s trading comes to an end, after reaching an intraday high of 1.3722. The pair advanced as the market’s mood improved, to the detriment of the American currency. The macroeconomic calendar was scarce in the UK, as the country published June Publish Sector Net Borrowing, which came in at £22.02 billion, better than expected. Read more...

GBP/USD Forecast: Selling opportunity? Dead-cat bounce leaves critical support in danger

Every trend has a countertrend – yet if the move in the opposite direction has no justification, it could prove short-lived. GBP/USD has bounced off the fresh five-month low of 1.3570 as the dollar has taken a break from gains. The greenback is falling as Treasury yields rise – a change in correlation. It seems that demand for bonds and the dollar are now linked. Read more...

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