Pound Sterling Price News and Forecast: GBP/USD remains pressured around multi-year low

FXStreet Team FXStreet

GBP/USD Price Analysis: Bulls are moving in and eye a key imbalance of price

As per the prior analysis from the New York session on Tuesday, GBP/USD Price Analysis: Bulls move in from critical hourly support, the bears are potentially lurking higher up as the price corrects from the well-extablished lows as the following update will show.

GBP/USD ignores UK PM Truss’ push for prosperity below 1.1400, focus on central banks, politics

GBP/USD holds lower ground near the 37-year bottom, close to 1.1375, as market braces for the US Federal Reserve’s (Fed) monetary policy announcement during early Wednesday in Asia. In doing so, the Cable pair ignores recently positive updates from the UK’s political frontier, as well as Brexit, amid fears that the divergence between the Fed and the Bank of England (BOE) is likely to remain wider.

GBP/USD

Overview
Today last price	1.1372
Today Daily Change	-0.0009
Today Daily Change %	-0.08
Today daily open	1.1381

Trends
Daily SMA20	1.1574
Daily SMA50	1.1852
Daily SMA100	1.2085
Daily SMA200	1.2686

Levels
Previous Daily High	1.1461
Previous Daily Low	1.1357
Previous Weekly High	1.1738
Previous Weekly Low	1.1351
Previous Monthly High	1.2294
Previous Monthly Low	1.1599
Daily Fibonacci 38.2%	1.1397
Daily Fibonacci 61.8%	1.1421
Daily Pivot Point S1	1.1338
Daily Pivot Point S2	1.1296
Daily Pivot Point S3	1.1234
Daily Pivot Point R1	1.1442
Daily Pivot Point R2	1.1504
Daily Pivot Point R3	1.1546

Author

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 loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.