Pound Sterling Price News and Forecast: GBP/USD steady above 1.3700 despite broad-US dollar strength

FXStreet Team FXStreet

GBP/USD steady above 1.3700 despite broad-US dollar strength

GBP/USD hovers around 1.3709 as the European session closes. BoE’s hawkishness boosts the prospects of the British pound. US Durable Good Orders in August expanded 1.8%, more than July’s 0.5%. Chicago’s Fed President Evans commented that the US economy is close to meeting the Fed’s bar for bond tapering. After closing in the back foot on the last week, the GBP/USD is recovering, trading at 1.3704 up 0.12% at the time of writing. Read more...

GBP/USD

Overview
Today last price	1.3703
Today Daily Change	0.0016
Today Daily Change %	0.12
Today daily open	1.3687

Trends
Daily SMA20	1.3772
Daily SMA50	1.3788
Daily SMA100	1.39
Daily SMA200	1.3842

Levels
Previous Daily High	1.3736
Previous Daily Low	1.3658
Previous Weekly High	1.3752
Previous Weekly Low	1.361
Previous Monthly High	1.3958
Previous Monthly Low	1.3602
Daily Fibonacci 38.2%	1.3688
Daily Fibonacci 61.8%	1.3706
Daily Pivot Point S1	1.3651
Daily Pivot Point S2	1.3615
Daily Pivot Point S3	1.3573
Daily Pivot Point R1	1.3729
Daily Pivot Point R2	1.3772
Daily Pivot Point R3	1.3808

GBP/USD analysis: Finds support in 1.3660

At mid-day on Friday, the GBP/USD started to find support in the 1.3660 level. On Monday, the rate bounced off the support level and began a surge. The surge passed the resistance of the 55, 100 and weekly simple pivot points from 1.3675 to 1.3690. Next target for the surge was the 200-hour simple moving average near 1.3720. In the case that the resistance of the 200-hour SMA fails to push the rate down, the pair would aim at the resistance of the 1.3750 mark and the weekly simple pivot point at 1.3759. Read more...

GBP/USD Forecast: Petrol problems pound the pound, BOE and upbeat mood could turn it up

GBP/USD has been under pressure as a petrol shortage threatens the UK. BOE hawkishness, optimism about Evergrande and US data could turn the pair around. Monday's four-hour chart is painting a mixed picture. Running dry – the UK Petrol Retailers Association has said 50-90% of stations are running dry in some areas, and the crisis may derail the recovery. Calls to avoid panic-stocking have only served to highlight the issue and to trigger long lines at pumps. Read more...

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FXStreet Team

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