Pound Sterling Price News and Forecast: GBP/USD regains upside momentum

FXStreet Team FXStreet

GBP/USD approaches 1.2300 as Brexit woes battle softer USD ahead of US Consumer Confidence

GBP/USD grinds higher around the intraday top near 1.2285, following a sluggish start to the week, as buyers cheer the US dollar weakness during Tuesday’s Asian session. In doing so, the Cable pair ignores recent negative news surrounding Brexit, as well as the UK’s political jitters. That said, the UK policymakers in the House of Commons voted in favor of the Northern Ireland Protocol (NIP) Bill late Monday.

GBP/USD

Overview
Today last price	1.2275
Today Daily Change	0.0009
Today Daily Change %	0.07
Today daily open	1.2266

Trends
Daily SMA20	1.2356
Daily SMA50	1.2467
Daily SMA100	1.2859
Daily SMA200	1.3184

Levels
Previous Daily High	1.2332
Previous Daily Low	1.2238
Previous Weekly High	1.2324
Previous Weekly Low	1.2161
Previous Monthly High	1.2667
Previous Monthly Low	1.2155
Daily Fibonacci 38.2%	1.2274
Daily Fibonacci 61.8%	1.2296
Daily Pivot Point S1	1.2225
Daily Pivot Point S2	1.2184
Daily Pivot Point S3	1.2131
Daily Pivot Point R1	1.232
Daily Pivot Point R2	1.2373
Daily Pivot Point R3	1.2414

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.

EUR/USD looks sidelined below 1.1600

EUR/USD remains on the back foot in the latter part of the NA session on Thursday, now attempting a consolidative theme in the sub-1.1600 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is favouring the continuation of the leg lower in spot.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

Gold: further weakness could challenge $5,000

Gold comes under fresh selling pressure on Thursday, slipping back below the $5,100 mark per troy ounce. Persistent strength in the US Dollar (USD) is preventing the yellow metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.