GBP/USD Bulls take foot off the gas below 1.3900
GBP/USD slips from the highs as the UK CPI impact tails off a touch into consolidation. Cable traders are weighing both the Fed and the BoE along with the risks of Covid. GBP/USD is trading on the bid by some 0.4% from between a low of 1.3801 and a high of 1.3891 as the greenback slides with markets repricing central banks. First and foremost, the pound climbed against the greenback following UK inflation data that climbed more than expected. Read more...
|Today last price||1.3862|
|Today Daily Change||0.0050|
|Today Daily Change %||0.36|
|Today daily open||1.3812|
|Previous Daily High||1.3905|
|Previous Daily Low||1.38|
|Previous Weekly High||1.3908|
|Previous Weekly Low||1.3742|
|Previous Monthly High||1.4249|
|Previous Monthly Low||1.3787|
|Daily Fibonacci 38.2%||1.384|
|Daily Fibonacci 61.8%||1.3865|
|Daily Pivot Point S1||1.3773|
|Daily Pivot Point S2||1.3734|
|Daily Pivot Point S3||1.3668|
|Daily Pivot Point R1||1.3878|
|Daily Pivot Point R2||1.3944|
|Daily Pivot Point R3||1.3983|
GBP/USD Forecast: Reopening at doubt amid resurgent covid cases
The GBP/USD pair peaked at 1.3891, retreating afterwards to settle in the 1.3860 price zone. The pair eased from tops despite the broad dollar’s weakness, as mixed UK data and coronavirus-related concerns undermined demand for the pound. Early in the day, the country published June inflation figures, with the Consumer Price Index increasing to 2.5% YoY. Producer Prices in the same month were down, while the Retail Price Index was up 3.9% in the same period. Read more...
GBP/USD Forecast: Dead-cat bounce? Pound at the mercy of Powell
GBP/USD has been recovering after the UK reported higher than expected inflation figures. Fed Chair Powell's testimony is left, right and center after US CPI, soft bond auction supported the dollar. Wednesday's four-hour chart is painting a mixed picture. Inflation is everywhere – that is the notion after both the US and the UK have reported higher-than-expected price rises. However, the increases are boosted by transitory factors on both sides of the pond, and what matters is what policymakers think about it. Read more...
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