Pound Sterling Price News and Forecast: GBP/USD needs a fresh catalyst

FXStreet Team FXStreet

GBP/USD fades recovery moves below 1.3600 as risks dwindle

GBP/USD stays depressed while easing to 1.3563 during the initial Asian session on Friday. The cable dropped for the second consecutive day before bouncing off 1.3532. However, the recovery cools down from 1.3577 off-late. Fundamentals suggest the coronavirus (COVID-19) outbreak keeps weighing on the Cable even as the US dollar trims the latest gains. Updates from the White House and the US Nonfarm Payrolls (NFP) are the key, not to forget the virus news.

GBP/USD

Overview
Today last price	1.3554
Today Daily Change	-0.0012
Today Daily Change %	-0.09
Today daily open	1.3566

Trends
Daily SMA20	1.3512
Daily SMA50	1.3356
Daily SMA100	1.3178
Daily SMA200	1.2876

Levels
Previous Daily High	1.3633
Previous Daily Low	1.3532
Previous Weekly High	1.3686
Previous Weekly Low	1.343
Previous Monthly High	1.3686
Previous Monthly Low	1.3134
Daily Fibonacci 38.2%	1.3571
Daily Fibonacci 61.8%	1.3595
Daily Pivot Point S1	1.3521
Daily Pivot Point S2	1.3476
Daily Pivot Point S3	1.342
Daily Pivot Point R1	1.3622
Daily Pivot Point R2	1.3678
Daily Pivot Point R3	1.3723

GBP/USD Forecast: Pound needs a fresh catalyst

The GBP/USD pair ended the day in the red around 1.3570, undermined by renewed dollar’s demand and the absence of UK news that could provide the pound with directional impulse. The currency remained under pressure after the latest total lockdown imposed by the government spurred concerns about potential economic fallout. This Thursday, the UK reported 52,618 new coronavirus cases, the first time the figure dropped this week, although the death toll reached a record of 1,162.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.