Pound Sterling Price News and Forecast: GBP/USD directionless mode extends, awaiting fresh signal


GBP/USD bears keep reins under 1.2200 with eyes on BOE’s Bailey, Fed’s Powell

GBP/USD dribbles around the weekly low of 1.2180, after declining the most over a week, as sellers take a breather ahead of the key data/events. However, pessimism surrounding Brexit, economic slowdown and inflation woes keep the downside bias intact. US Core PCE, Final reading of Q1 GDP may entertain traders ahead of key discussions at the ECB Forum.

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GBP/USD

Overview
Today last price 1.2203
Today Daily Change 0.0020
Today Daily Change % 0.16
Today daily open 1.2183
 
Trends
Daily SMA20 1.2335
Daily SMA50 1.245
Daily SMA100 1.2845
Daily SMA200 1.3177
 
Levels
Previous Daily High 1.2292
Previous Daily Low 1.2181
Previous Weekly High 1.2324
Previous Weekly Low 1.2161
Previous Monthly High 1.2667
Previous Monthly Low 1.2155
Daily Fibonacci 38.2% 1.2223
Daily Fibonacci 61.8% 1.2249
Daily Pivot Point S1 1.2145
Daily Pivot Point S2 1.2107
Daily Pivot Point S3 1.2034
Daily Pivot Point R1 1.2257
Daily Pivot Point R2 1.233
Daily Pivot Point R3 1.2368

 

GBP/USD outlook: Directionless mode extends, awaiting fresh signal

Cable enters the US session on Monday in red after short-lived rally, inspired by renewed risk mode, pushed the price to a ten-day high in early European trading. The price remains within the range which extends into sixth consecutive day, defining near-term price action as directionless, capped by daily Kijun-sen and supported by daily Tenkan-sen, after the action repeatedly failed to register a clear break on either side.

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