Pound Sterling Price News and Forecast: GBP/USD seesaws below 1.3850 ahead of US CPI figures

FXStreet Team FXStreet

GBP/USD seesaws below 1.3850 ahead of US CPI figures

GBP/USD range-bounds during the New York session, directionless awaits for catalyst. The US dollar index is flat, waits for US Inflation numbers. GBP/USD is trading virtually unchanged on the day currently trading at 1.3831. Market sentiment remains upbeat, influencing commodity- currencies and weighing on the dollar, as investors focus on US inflation numbers. Read more...

GBP/USD

Overview
Today last price	1.3838
Today Daily Change	0.0002
Today Daily Change %	0.01
Today daily open	1.3836

Trends
Daily SMA20	1.3767
Daily SMA50	1.3807
Daily SMA100	1.3917
Daily SMA200	1.3825

Levels
Previous Daily High	1.3889
Previous Daily Low	1.3827
Previous Weekly High	1.3889
Previous Weekly Low	1.3726
Previous Monthly High	1.3958
Previous Monthly Low	1.3602
Daily Fibonacci 38.2%	1.3865
Daily Fibonacci 61.8%	1.3851
Daily Pivot Point S1	1.3813
Daily Pivot Point S2	1.3789
Daily Pivot Point S3	1.3751
Daily Pivot Point R1	1.3874
Daily Pivot Point R2	1.3912
Daily Pivot Point R3	1.3936

GBP/USD Forecast: Sterling rejected at resistance, long list of worries could send it lower

GBP/USD has retreated from the highs as inflation concerns send the dollar higher. Worries about UK tax hikes, rising covid cases and other factors are weighing on cable. If at first, you don't succeed, try, try again – but what happens if that second attempt fails? GBP/USD has been rejected at the critical 1.3895 level in what could prove as a decisive blow to its recovery. There may be more in store. Read more...

EUR/USD and GBP/USD overview

The GBP/USD is showing a strong bearish reversal and is expected to decline further down. The GBP/USD is looking to test the support trend line again, which could create a larger triangle chart pattern. The breakout direction should be bearish. Read more...

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.

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