Pound Sterling Price News and Forecast: GBP/USD slipped under 1.3300 in recent trade

FXStreet Team FXStreet

GBP/USD dips under 1.3300 as sterling traders worry about impact of UK Omicron outbreak

Sterling has been under pressure during US trading hours, pulling back from earlier session highs above 1.3350 to fresh session lows under 1.3300. That leaves the pair only a few pips above annual lows printed last Friday at 1.3278. Recent weakness could be a reflection of fears that the Omicron Covid-19 variant, multiple infections of which have now been picked up across the UK, poses downside risks to the UK’s economic recovery this winter.

GBP/USD

Overview
Today last price	1.3312
Today Daily Change	0.0009
Today Daily Change %	0.07
Today daily open	1.3303

Trends
Daily SMA20	1.3448
Daily SMA50	1.3579
Daily SMA100	1.369
Daily SMA200	1.3817

Levels
Previous Daily High	1.3363
Previous Daily Low	1.3288
Previous Weekly High	1.3457
Previous Weekly Low	1.3278
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3317
Daily Fibonacci 61.8%	1.3334
Daily Pivot Point S1	1.3273
Daily Pivot Point S2	1.3242
Daily Pivot Point S3	1.3197
Daily Pivot Point R1	1.3348
Daily Pivot Point R2	1.3393
Daily Pivot Point R3	1.3424

GBP/USD analysis: Respects weekly pivot point

The weekly simple pivot point and the high-level zone at 1.3364/1.3370 has provided the GBP/USD pair with enough resistance for the rate to decline. Namely, during the first half of Monday's trading hours, the currency rate passed below the 100-hour SMA at 1.3340 and the 50-hour simple moving average at 1.3326.

AUD/USD holds firm near 0.7000 after Chinese inflation, trade data

AUD/USD stays firm near 0.7000 in Wednesday’s Asian session, picking up some bids after China's mixed inflation and upbeat trade data. CPI rose less than expected in September, while PPI inflation picked up. Meanwhile, the Chinese trade surplus unexpectedly widened in September. The pair remains underpinned by a broadly subdued US Dollar, despite the Middle East escalation, as focus remains on US CPI data.

USD/JPY consolidates near 158.50; looks to US CPI for fresh impetus

USD/JPY stays range-bound near 158.50 in the Asian session on Wednesday, with looming intervention risks supporting the Japanese Yen and capping upside amid a softer US Dollar. However, geopolitical uncertainties act as a tailwind for the safe-haven USD and the pair. Traders also seem hesitant ahead of the release of the latest US inflation figures.

Gold drifts lower with US CPI, Fed speakers in focus

Gold extends losses on Wednesday, despite the lower US Treasury yields, with investors looking from the sidelines ahead of the release of September’s US Consumer Price Index report and speeches from Federal Reserve officials due later in the day. The XAU/USD pair has retreated below the $4,150 level after rejection at the $4,200 area on Monday, with technical indicators showing building bearish momentum.

Bitcoin eyes $85,000; ETH holds support, XRP stabilizes

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) show signs of recovery on Wednesday as buyers try to regain control after their recent market weakness. BTC extends its rebound toward the $85,000 resistance, while ETH and XRP find support around key levels.

US CPI data expected to rise in September as markets reassess Fed rate outlook

The US Bureau of Labor Statistics will publish the September Consumer Price Index (CPI) data on Wednesday. The report is expected to show a further increase in headline prices and a small uptick in annual core inflation. Any divergence from analysts’ estimates could influence the Federal Reserve’s policy outlook and impact the US Dollar’s valuation.

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?