Pound Sterling Price News and Forecast: GBP/USD rebounds back above 1.3000

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Downside risks remain intact ahead of a big week

GBP/USD booked the second straight week of losses, as bears refused to give in amid hawkish Fed-driven sentiment and risk-aversion. Cable touched its lowest level since November below 1.3000, as King dollar reigned supreme, partly buoyed by the US bond market rout. With UK and US inflation dropping next week, the downside risks for the currency pair remain intact. Read more...

GBP/USD rebounds back above 1.3000 after hitting lowest levels since November 2020

GBP/USD hit its lowest level since November 2020 at 1.29817 in earlier Friday trade, weighed at the time by a broad strengthening of the US dollar that say the DXY momentarily eclipse 100 for the first time in nearly two years. But the currency pair has since rebounded to around the 1.3030 level, erasing the day’s losses to about 0.3% versus around 0.7% at worst levels. Read more...

GBP/USD

Overview
Today last price	1.3016
Today Daily Change	-0.0061
Today Daily Change %	-0.47
Today daily open	1.3077

Trends
Daily SMA20	1.3123
Daily SMA50	1.3317
Daily SMA100	1.3368
Daily SMA200	1.3546

Levels
Previous Daily High	1.3107
Previous Daily Low	1.3052
Previous Weekly High	1.319
Previous Weekly Low	1.3051
Previous Monthly High	1.3438
Previous Monthly Low	1.3
Daily Fibonacci 38.2%	1.3086
Daily Fibonacci 61.8%	1.3073
Daily Pivot Point S1	1.305
Daily Pivot Point S2	1.3023
Daily Pivot Point S3	1.2995
Daily Pivot Point R1	1.3105
Daily Pivot Point R2	1.3133
Daily Pivot Point R3	1.316

GBP/USD Elliott Wave: Forecasting the short term path

In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPUSD. The pair has given us nice trading opportunity recently. We have been selling the rallies at 1.3298-1.3348 area as explained in previous article on GBPUSD . Reasons for calling further weakness in pair are bearish sequences in the cycle from the June 1st 2021 peak. We recommended members to avoid buying and keep selling rallies in 3,7,11 swings when get a chance. In further text we are going to explain the Elliott Wave Forecast. Read more...

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD clings to 1.3500 amid marginal losses

GBP/USD alternates gains with losses around the 1.3500 neighbourhood on Tuesday. Indeed, Cable struggles to further extend its incipient recovery in a context of continuous instability in the Middle East and modest gains in the Greenback.

EUR/USD alternates gains with losses near 1.1540

EUR/USD navigates a tight range near 1.1550 in the latter part of Tuesday’s NA session. The US Dollar’s vacillating price action accompanies the pair while market participants gear up for the crucial US inflation data due on Wednesday.

Gold loses the grip below $4,400

Gold retreats from its earlier tops and briefly revisited the $4,350 region per troy ounce on Tuesday. The yellow metal’s modest retracement follows lacklustre gains in the US Dollar and declining US Treasury yields across the curve, all amid steady uncertainty from the geopolitical landscape.

Shiba Inu Price Forecast: SHIB extends sell-off despite surging futures Open Interest

Shiba Inu (SHIB) maintains a bearish outlook on Tuesday, as it edges lower at $0.00000450. This marks the seventh day the meme coin has sustained a sell-off, weighed down by a weak technical structure. Shiba Inu derivatives continue to gain momentum, with perpetual futures Open Interest (OI) rising to 11.08 trillion SHIB on Tuesday, from 10.46 trillion the day before.

The inflation narrative is still way more important than the employment story

Core bonds sold off yesterday with the belly of the curve slightly underperforming in the US while European curves showed more of a bear flattening. Daily changes on the US curve varied between +4.7 bps (2-yr) and +6.4 bps (7-yr).

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.