Pound Sterling Price News and Forecast: GBP/USD retreats and snap three days of gains

FXStreet Team FXStreet

GBP/USD retreats and snap three days of gains amid escalating Middle East conflict

GBP/USD snaps three days of consecutive gains slumps on risk aversion spurred by the clash between Israel and Hamas after the latter struck an attack during the weekend. Consequently, risk-perceived currencies depreciated to the benefit of safe-haven peers, including the Greenback (USD). The GBP/USD is trading at around 1.2199, down 0.30%, after hitting a daily high of 1.2224. Read More...

Pound Sterling recovers as risk sentiment revives

The Pound Sterling (GBP) corrected on Monday following a short-lived pullback as the Israel-Hamas conflict that began over the weekend strengthened the risk-aversion theme. The GBP/USD pair dropped sharply as the Federal Reserve (Fed) is expected to keep one more interest rate hike in consideration, while the Bank of England (BoE) may keep interest rates unchanged to phase out fears of a recession in the United Kingdom’s economy. Read More...

GBP/USD sticks to the range bound theme – UOB

In the view of Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group, GBP/USD is still seen navigating the 1.2030-1.2270 rang for the time being. Read More...

GBP/USD

Overview
Today last price	1.2203
Today Daily Change	-0.0034
Today Daily Change %	-0.28
Today daily open	1.2237

Trends
Daily SMA20	1.2279
Daily SMA50	1.2517
Daily SMA100	1.2607
Daily SMA200	1.2439

Levels
Previous Daily High	1.2262
Previous Daily Low	1.2106
Previous Weekly High	1.2262
Previous Weekly Low	1.2037
Previous Monthly High	1.2713
Previous Monthly Low	1.2111
Daily Fibonacci 38.2%	1.2202
Daily Fibonacci 61.8%	1.2165
Daily Pivot Point S1	1.2141
Daily Pivot Point S2	1.2046
Daily Pivot Point S3	1.1986
Daily Pivot Point R1	1.2297
Daily Pivot Point R2	1.2357
Daily Pivot Point R3	1.2453

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.

AUD/USD bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.