Pound Sterling Price News and Forecast GBP/USD: Recovery stalling at a critical Fibonacci level

FXStreet Team FXStreet

GBP/USD Forecast: Recovery stalling at a critical Fibonacci level

The British Pound was among the most benefited currencies from the broad dollar’s weakness, with GBP/USD recovering up to 1.3732 and finishing the day nearby. Buyers ignored mixed UK data, as the August Markit Manufacturing PMI printed 60.1 while the services Index came in at 55.5, the latter missing expectations and well below the previous one. Read more...

GBP/USD bulls in charge and target a test of 1.3800

GBP/USD bears lurking below 1.3800 as focus stays on the US dollar. Risk sentiment remains fragile despite a recent spike in positive sentiment. GBP/USD is currently trading at 1.3724, up 0.77% after rallying from a low of 1.3606 to score a high of 1.3725. Risk sentiment across markets has picked up benefitting currencies correlated to risk such as sterling and weighing on the US dollar. Read more...

GBP/USD

Overview
Today last price	1.3725
Today Daily Change	0.0103
Today Daily Change %	0.76
Today daily open	1.3622

Trends
Daily SMA20	1.3839
Daily SMA50	1.3846
Daily SMA100	1.3924
Daily SMA200	1.3792

Levels
Previous Daily High	1.3648
Previous Daily Low	1.3602
Previous Weekly High	1.3879
Previous Weekly Low	1.3602
Previous Monthly High	1.3984
Previous Monthly Low	1.3572
Daily Fibonacci 38.2%	1.362
Daily Fibonacci 61.8%	1.3631
Daily Pivot Point S1	1.36
Daily Pivot Point S2	1.3578
Daily Pivot Point S3	1.3554
Daily Pivot Point R1	1.3646
Daily Pivot Point R2	1.367
Daily Pivot Point R3	1.3693

GBP/USD Forecast: Only a gasp of air before losing 1.36? Why bears may take back control

GBP/USD has bounced off the lows as investors speculate the Fed delays tapering. Elevated UK covid cases and mixed data could drag sterling back down. Monday's four-hour chart is showing cable is not oversold anymore. Fresh energy on Monday morning? Pound bulls may find the dollar's decline cheerful, but it may be insufficient to lift GBP/USD back its pre-crash highs. The current move could turn into a mere "dead-cat bounce." Read more...

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FXStreet Team

FXStreet

EUR/USD flirts with three-day lows near 1.1570

EUR/USD resumes its march south on Thursday, revisting the 1.1570 region, or three-day lows, ahead of the opening bell in Asia. The intense sell-off in the pair comes in response to the solid performance of the US Dollar amid the still unresolved crisis in the Middle East. Moving forward, investors are expected to shift their focus to the release of the US NFP on Friday.

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