Pound Sterling Price News and Forecast: GBP/USD remains positive

FXStreet Team FXStreet

GBP/USD Price Analysis: Bulls eye key resistance confluence above 1.2900 amid Brexit optimism

GBP/USD remains positive while rising to 1.2875, up 0.31% on a day, during Tuesday’s Asian session. The Cable recently benefited from news shared by The Times that suggests the European Union (EU) is softening the stand over Brexit talks.

Other than the fundamentals, the pair’s ability to cross the 100-day EMA also directs the bulls towards 1.2910/20 resistance confluence comprising 21-day and 50-day EMA. Should GBP/USD buyers remain firm beyond 1.2920, the 1.3000 psychological magnet and the mid-month high around 1.3010 will be on their radars.

GBP/USD

Overview
Today last price	1.2843
Today Daily Change	0.0009
Today Daily Change %	0.07
Today daily open	1.2834

Trends
Daily SMA20	1.2962
Daily SMA50	1.3022
Daily SMA100	1.2738
Daily SMA200	1.272

Levels
Previous Daily High	1.293
Previous Daily Low	1.2747
Previous Weekly High	1.2967
Previous Weekly Low	1.2676
Previous Monthly High	1.3396
Previous Monthly Low	1.2982
Daily Fibonacci 38.2%	1.286
Daily Fibonacci 61.8%	1.2817
Daily Pivot Point S1	1.2744
Daily Pivot Point S2	1.2654
Daily Pivot Point S3	1.2561
Daily Pivot Point R1	1.2927
Daily Pivot Point R2	1.302
Daily Pivot Point R3	1.3111

GBP/USD Forecast: Brexit hopes continue to underpin Sterling

Pound longs returned with a vengeance this Monday, driving GBP/USD to 1.2929 its highest in almost a week. The pair got boosted by mounting hopes for a UK-EU trade deal, as representatives from both economies head into the ninth round of talks with cautious optimism. UK PM Johnson’s spokesman stated that a deal is still possible while there remains much to be done. The British currency found additional support in comments from BOE’s Ramsden who dismissed chances of using negative rates in the near-term.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

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The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

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