Pound Sterling Price News and Forecast: GBP/USD slides below 1.3100 mark, fresh session lows

FXStreet Team FXStreet

GBP/USD: Strong near-term recovery towards the March high at 1.3201 – Commerzbank

GBP/USD soared on Wednesday and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, looks at the 1.3201 March high after the cable moved above the 1.3085 mark.

Key quotes: "GBP/USD has seen a pretty strong rebound from the 20-day ma and this has effectively neutralised the near-term outlook. It is immediately bid above the near-term uptrend at 1.2881."

"The move above 1.3085 implies that the market is capable of retesting the 1.3201 March high and the recent high at 1.3483. In this vicinity is the 1.3468 multi-year downtrend and if seen we would allow this to again hold." Read more...

GBP/USD slides below 1.3100 mark, fresh session lows

The intraday USD buying interest picked up pace in the last hour and dragged the GBP/USD pair back below the 1.3100 mark, or fresh daily lows.

The pair witnessed some selling during the early European session on Thursday and eroded a part of the previous day's strong positive move of over 240 pips to six-week tops. A weaker tone around the equity markets helped revive demand for the safe-haven US dollar, which, in turn, was seen as a key factor that prompted some selling around the GBP/USD pair. Read more...

GBP/USD: Three reasons to consider a downside correction

GBP/USD soared on Wednesday amid the resumption of the Brexit negotiations officially and hopes of a potential deal by mid-November. However, Yohay Elam, an Analyst at FXStreet, explains three reasons why the cable may be headed lower after the Brexit breakout.

Key quotes: "Agreeing to intensify talks does not mean reaching common ground on the thorny issues. London and Brussels are at odds over state aid. This significant topic is competing with a minor, yet politically charged one – fisheries. Moreover, Britain and the bloc are still at loggerheads over the previous accord. Johnson's Internal Markets Bill knowingly violates the Brexit Withdrawal Agreement and the EU took legal action against it. Overall, the enthusiasm from new talks may fade swiftly." Read More...

GBP/USD

Overview
Today last price	1.3109
Today Daily Change	-0.0041
Today Daily Change %	-0.31
Today daily open	1.315

Trends
Daily SMA20	1.2929
Daily SMA50	1.3015
Daily SMA100	1.2851
Daily SMA200	1.271

Levels
Previous Daily High	1.3177
Previous Daily Low	1.294
Previous Weekly High	1.3083
Previous Weekly Low	1.2863
Previous Monthly High	1.3482
Previous Monthly Low	1.2676
Daily Fibonacci 38.2%	1.3086
Daily Fibonacci 61.8%	1.303
Daily Pivot Point S1	1.3001
Daily Pivot Point S2	1.2851
Daily Pivot Point S3	1.2763
Daily Pivot Point R1	1.3238
Daily Pivot Point R2	1.3326
Daily Pivot Point R3	1.3475

Author

FXStreet Team

FXStreet

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.