Pound Sterling Price News and Forecast: GBP/USD regains lost ground and hits one-week highs above 1.3640

FXStreet Team FXStreet

GBP/USD regains lost ground and hits one-week highs above 1.3640

Pound's rebound from 1.3414 has extended to one-week highs at 1.3640 so far. The sterling appreciates on hopes of a BoE's interest rate hike. GBP/USD's current recovery, to cap at 1.3658/75. The sterling maintains a bid tone for the fourth consecutive day on Tuesday. The pair’s recovery from year-to-date lows near 1.3400 last week has extended beyond 1.3600, reaching session highs at 1.3640 so far. Read more...

GBP/USD

Overview
Today last price	1.364
Today Daily Change	0.0029
Today Daily Change %	0.21
Today daily open	1.3611

Trends
Daily SMA20	1.3695
Daily SMA50	1.3767
Daily SMA100	1.3867
Daily SMA200	1.3844

Levels
Previous Daily High	1.364
Previous Daily Low	1.3532
Previous Weekly High	1.3729
Previous Weekly Low	1.3412
Previous Monthly High	1.3913
Previous Monthly Low	1.3412
Daily Fibonacci 38.2%	1.3599
Daily Fibonacci 61.8%	1.3573
Daily Pivot Point S1	1.3548
Daily Pivot Point S2	1.3486
Daily Pivot Point S3	1.344
Daily Pivot Point R1	1.3657
Daily Pivot Point R2	1.3703
Daily Pivot Point R3	1.3765

GBP/USD Forecast: Sterling weathers several storms, ISM Services PMI key to further gains

"We have reliable supply chains for Christmas" – UK Prime Minister Boris Johnson's soothing words early on Tuesday seem to echo with GBP/USD bulls sentiment that "everything will be alright." A currency pair that weathers stormy seas have room to rise when the winds calm. GBP/USD has been holding onto its impressive recovery. Cable's ability to withstand a long list of worries implies more gains are likely. Tuesday's four-hour chart is showing bulls have gained ground. Read more...

GBP/USD finds resistance at 23.6% Fibonacci in descending channel

GBPUSD has been developing in a downward sloping channel since the beginning of June, with the price recently posting another rebound at the bottom of this structure at 1.3410. The cable is currently testing the 23.6% Fibonacci retracement level of the down leg from 1.4248 to 1.3410 at 1.3608. 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 stays below 1.3400 after soft UK CPI data

GBP/USD struggles to gain traction and stays below 1.3400 in the second half of the day on Wednesday. The UK annual Consumer Price Index (CPI) inflation cooled to 2.6% in June against the market forecast of 2.7%, making it difficult for the British Pound gather recovery momentum. Meanwhile, investors keep a close eye on headlines coming out of the Middle East.

EUR/USD stabilizes near 1.1400 as markets focus on geopolitics

EUR/USD trades in a narrow channel at around 1.1400 on Wednesday. In the absence of high-impact data releases, escalating geopolitical tensions in the Middle East caps the pair's upside. On Thursday, the European Central Bank (ECB) will announce monetary policy decisions.

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XRP consolidates as inflows and volume climb

Ripple (XRP) retains a slightly bullish outlook on Wednesday despite logging a minor correction from the supply range near $1.15. The remittance token is down 0.5% on the day, reflecting a broader cryptocurrency market drawdown, primarily driven by persistent geopolitical tensions between the United States (US) and Iran in the Middle East.

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