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...

GBP/USD

Overview
Today last price 1.3676
Today Daily Change 0.0016
Today Daily Change % 0.12
Today daily open 1.366
 
Trends
Daily SMA20 1.3623
Daily SMA50 1.3727
Daily SMA100 1.3829
Daily SMA200 1.3844
 
Levels
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...

 

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