Pound Sterling Price News and Forecast: GBP/USD passes support levels

FXStreet Team FXStreet

GBP/USD Forecast: Technicals turn bearish ahead of US jobs report

GBP/USD has managed to snap a three-day losing streak on Thursday but failed to hold above 1.3300 as the greenback started to gather strength early Friday. The technical outlook seems to have turned bearish with key resistance levels staying intact.

Later in the day, the US Bureau of Labor Statistics will release the November jobs report. Investors forecast Nonfarm Payrolls (NFP) to rise by 550,000 following October's increase of 531,000. Read more...

GBP/USD analysis: Passes support levels

At mid-day on Friday, the GBP/USD currency exchange rate pierced the support of the weekly S1 simple pivot point at 1.3264. The rate was pushed down initially on Thursday by the 200-hour SMA. On Friday, the 50-hour simple moving average provided resistance.

A potential decline further below might look for support in the 1.3200 mark, which provided the pair with support on Tuesday, in the aftermath of Jerome Powell's testimony to the US Congress. Read more...

GBP/USD: Bears take control ahead of NFP

GBP/USD has dropped below 1.3300 on renewed dollar strength. As FXStreet’s Eren Sengezer notes, technicals turn bearish as buyers fail to lift cable above key hurdles ahead of US jobs report.

“Investors forecast Nonfarm Payrolls (NFP) to rise by 550K. However, market participants will pay close attention to wage inflation. A stronger-than-anticipated print could trigger another leg higher in the US Dollar Index as it would reaffirm the Fed's tightening prospects.” Read more...

GBP/USD

Overview
Today last price	1.3273
Today Daily Change	-0.0027
Today Daily Change %	-0.20
Today daily open	1.33

Trends
Daily SMA20	1.3401
Daily SMA50	1.3556
Daily SMA100	1.3673
Daily SMA200	1.3805

Levels
Previous Daily High	1.3334
Previous Daily Low	1.3264
Previous Weekly High	1.3457
Previous Weekly Low	1.3278
Previous Monthly High	1.3698
Previous Monthly Low	1.3194
Daily Fibonacci 38.2%	1.3307
Daily Fibonacci 61.8%	1.329
Daily Pivot Point S1	1.3264
Daily Pivot Point S2	1.3229
Daily Pivot Point S3	1.3194
Daily Pivot Point R1	1.3334
Daily Pivot Point R2	1.3369
Daily Pivot Point R3	1.3405

Author

FXStreet Team

FXStreet

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