Pound Sterling Price News and Forecast: GBP/USD remains sidelined around the monthly bottom

FXStreet Team FXStreet

GBP/USD retreats towards monthly bottom below 1.4100, focus UK CPI, Jerome Powell

GBP/USD refreshes intraday low to 1.4077 within a choppy range below 1.4100 during Wednesday’s Asian session. The cable pair dropped to the lowest in a month the previous day before bouncing off 1.4034. However, chatters surrounding UK’s covid conditions and Brexit woes join the pre-data/event cautious sentiment to weigh on the quote of late.

GBP/USD

Overview
Today last price	1.4070
Today Daily Change	-0.0003
Today Daily Change %	-0.02
Today daily open	1.4082

Trends
Daily SMA20	1.4151
Daily SMA50	1.401
Daily SMA100	1.3932
Daily SMA200	1.3582

Levels
Previous Daily High	1.4129
Previous Daily Low	1.4034
Previous Weekly High	1.4191
Previous Weekly Low	1.4073
Previous Monthly High	1.4234
Previous Monthly Low	1.3801
Daily Fibonacci 38.2%	1.407
Daily Fibonacci 61.8%	1.4093
Daily Pivot Point S1	1.4035
Daily Pivot Point S2	1.3987
Daily Pivot Point S3	1.394
Daily Pivot Point R1	1.4129
Daily Pivot Point R2	1.4176
Daily Pivot Point R3	1.4223

GBP/USD Price Analysis: Bears in control, cling to multi-day support near 1.4080

The GBP/USD pair started the session on Wednesday on a lower note. The pair recovered from the low of 1.4034 on Tuesday to close near the 1.4080 mark, where it waivers now. On the daily chart, the GBP/USD pair has been pressurized near the 1.4225 mark, with the formation of multiple tops in the region. The pair closed below the 1.4100 key psychological mark for the first time since May 17.

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