Pound Sterling Price News and Forecast: GBP/USD struggles at 1.3700 amid US dollar weakness across the board

GBP/USD struggles at 1.3700 amid US dollar weakness across the board

The GBP/USD pair stalls at the 50-DMA retrace below 1.3700. Risk-on market sentiment boosts the GBP undermines the greenback. GBP/USD: The Relative Strength Index above 50, aiming higher, indicates that there could be a leg-up near 1.3800. The GBP/USD retreats from the daily high around 1.3733, advances 0.20% during the New York session, trading at 1.3688 at the time of writing. The British pound could not hold to the 1.3700 level, broke the latter in a counter-trend move, which in 4-hours witnessed a 60 pip drop. Read more...


Today last price 1.3676
Today Daily Change 0.0016
Today Daily Change % 0.12
Today daily open 1.366
Daily SMA20 1.3623
Daily SMA50 1.3727
Daily SMA100 1.3829
Daily SMA200 1.3844
Previous Daily High 1.3665
Previous Daily Low 1.3576
Previous Weekly High 1.3659
Previous Weekly Low 1.3532
Previous Monthly High 1.3913
Previous Monthly Low 1.3412
Daily Fibonacci 38.2% 1.3631
Daily Fibonacci 61.8% 1.361
Daily Pivot Point S1 1.3602
Daily Pivot Point S2 1.3544
Daily Pivot Point S3 1.3513
Daily Pivot Point R1 1.3692
Daily Pivot Point R2 1.3723
Daily Pivot Point R3 1.3781


GBP/USD Forecast: Additional gains likely with daily close above 1.3700

GBP/USD has regained bullish momentum on dollar weakness, Brexit optimism. US Treasury bond yields continue to impact greenback's valuation. A daily close above 1.3700 could bring in additional buyers. The GBP/USD pair broke out of its weekly trading channel on Wednesday and extended its advance to a fresh 15-day high near 1.3700 on Thursday amid dollar weakness and Brexit optimism. Read more...

GBP/USD hits 2-week high on BOE rate hike uncertainty, Bitcoin prices edge closer to $60K

GBPUSD hit a 2-week high in today’s trading session, as markets reacted to comments from a policymaker from the BOE. The Bank of England member Silvana Tenreyro was speaking regarding the potential for a near-term rate hike, due inflation concerns. In her comments Tenreyro stated that, "Typically, for short-lived effects on inflation, such as the big rises in the prices of semiconductors or energy prices, it would be self-defeating to try to respond to their direct effects". Read more...


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD slides under 1.16 as US Retail Sales smash estimates

EUR/USD is trading under 1.16 after US Retail Sales smashed estimates with 0.7% in September. Treasury yields are rising. The risk-on mood continues to underpin the pair, as the ECB policymaker Wunsch dismisses inflation concerns. 


GBP/USD retreats below 1.3750 after US data

GBP/USD has pared some of its gains after US Retail Sales beat estimates, with the core group hitting 0.8% last month. Earlier, investors shrugged off dovish comments from two BOE members. 


XAU/USD slumps to $1,770 area on upbeat US data, surging US bond yields

Gold started the last day of the week on the back foot and extended its slide to a fresh daily low of $1,770 in the early trading hours of the American session pressured by the dollar's resilience and surging US Treasury bond yields.

Gold News

Crypto bulls on winning streak pushing for more

Bitcoin price favors bulls reaching $60,000 by the end of this week and onwards to new all-time highs by the end of next week. Ethereum price broke a bearish top line and could hit new all-time highs by next week in tandem with Bitcoin. 

Read more

Why is Tesla going up?

Tesla's (TSLA) stock price has finally pushed higher in a series of steady and sure moves. We had nearly given up on our bullish call with Tesla stock as it kept struggling around the $800 level.

Read more