Pound Sterling Price News and Forecast: GBP/USD remains sidelined following a rebound from five-month low


GBP/USD defends 1.3700 despite coronavirus, Brexit jitters

GBP/USD takes rounds to 1.3710-20 amid a quiet Asian session on Thursday. The pair reversed from February lows, marking the biggest daily gains in two weeks, on the US dollar pullback the previous day. However, the bulls seemed to have lost upside momentum of late amid a lack of major catalysts and cautious sentiment ahead of the European Central Bank (ECB) meeting.

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GBP/USD

Overview
Today last price 1.3708
Today Daily Change -0.0004
Today Daily Change % -0.03
Today daily open 1.3712
 
Trends
Daily SMA20 1.3813
Daily SMA50 1.3986
Daily SMA100 1.3927
Daily SMA200 1.3706
 
Levels
Previous Daily High 1.3723
Previous Daily Low 1.3591
Previous Weekly High 1.391
Previous Weekly Low 1.3761
Previous Monthly High 1.4249
Previous Monthly Low 1.3787
Daily Fibonacci 38.2% 1.3673
Daily Fibonacci 61.8% 1.3642
Daily Pivot Point S1 1.3628
Daily Pivot Point S2 1.3543
Daily Pivot Point S3 1.3496
Daily Pivot Point R1 1.376
Daily Pivot Point R2 1.3807
Daily Pivot Point R3 1.3892

 

GBP/USD keeps drifting south

GBP/USD entered a sliding mode this week, perhaps after BoE MPC member, Jonathan Haskel said on Monday, that reducing stimulus is not the right option for the foreseeable future. Remember that last week, MPC member Michael Saunders expressed a different view, saying that economic activity has recovered a bit faster than forecast in May and that it may become appropriate fairly soon to withdraw some stimulus. Haskel’s remarks came to weigh on expectations over a sooner action by the BoE, which combined with still elevated bets over a Fed hike in the first months of 2023 kept Cable in a downtrend.

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