Pound Sterling Price News and Forecast: GBP/USD needs to clear 1.1600 to attract buyers

FXStreet Team FXStreet

GBP/USD Forecast: Pound needs to clear 1.1600 to attract buyers

GBP/USD has gathered recovery momentum and advanced toward 1.1600 on Tuesday. The near-term technical outlook points to a bullish shift as investors await the US ISM Services PMI data for August. Following Monday's choppy action amid the Labor Day holiday in the US, the risk-positive market environment made it difficult for the dollar to gather strength during the Asian trading hours on Tuesday and allowed GBP/USD to push higher. Read more...

GBP/USD wobbles around 1.1520 after upbeat US ISM Services PMI

The GBP/USD tumbled toward its opening price after the US ISM Non-Manufacturing PMI, a gauge of the services sector in August, improved, while supply bottlenecks and price pressures eased. The GBP/USD is trading at 1.1528, slightly above its opening price, after hitting a fresh weekly high around 1.1609, but better-than-estimated US data sent cable nosediving, reaching a daily low at around 1.1493. Read more...

GBP/USD

Overview
Today last price	1.1518
Today Daily Change	0.0001
Today Daily Change %	0.01
Today daily open	1.1517

Trends
Daily SMA20	1.1856
Daily SMA50	1.1969
Daily SMA100	1.2218
Daily SMA200	1.2782

Levels
Previous Daily High	1.1522
Previous Daily Low	1.1444
Previous Weekly High	1.1761
Previous Weekly Low	1.1496
Previous Monthly High	1.2294
Previous Monthly Low	1.1599
Daily Fibonacci 38.2%	1.1492
Daily Fibonacci 61.8%	1.1474
Daily Pivot Point S1	1.1466
Daily Pivot Point S2	1.1416
Daily Pivot Point S3	1.1388
Daily Pivot Point R1	1.1545
Daily Pivot Point R2	1.1573
Daily Pivot Point R3	1.1623

GBP/USD pares intraday gains to multi-day peak, faces rejection near 1.1600 mark

The GBP/USD pair retreats a few pips from a multi-day peak, around the 1.1600 mark touched earlier this Tuesday and for now, seems to have stalled its bounce from the lowest level since March 2020. The pair, however, holds in the positive territory for the second straight day and is currently placed around the 1.1565 region, still up over 0.40% for the day. Read more...

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FXStreet Team

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