Pound Sterling Price News and Forecast: GBP/USD surrenders a major part of its intraday gains

FXStreet Team FXStreet

GBP/USD Price Analysis: Recaptures 50-DMA on the road to recovery

GBP/USD is looking to build onto Friday’s rebound from five-week lows of 1.3357 reached last Thursday, as the overall upbeat market mood favors the high-beta currency in the pound.

Collaborating with the upswing in the cable, the US dollar eases from one-and-a-half-year highs against its main peers, as investors take profits off the table ahead of the BOE interest rate decision and US payrolls. Read more...

GBP/USD surrenders a major part of its intraday gains, retreats back to 1.3400 mark

The GBP/USD pair surrendered a major part of its intraday gains and was last seen hovering near the lower end of its daily trading range, just above the 1.3400 mark.

A combination of supporting factors assisted the GBP/USD pair to gain positive traction for the second successive day on Monday and recover further from over one-month low touched last week. The US dollar witnessed some profit-taking from a one-and-half year high amid the continued flattening of the US Treasury yield curve. Read more...

GBP/USD to retest medium-term support at 1.3189/35 – Credit Suisse

GBP/USD continues to essentially hold the “neckline” to the December base at 1.3376 for now. But the broader risk is seen lower for a retest of medium-term support at 1.3189/35, according to economists at Credit Suisse.

“With the USD expected to strengthen further, we look for a sustained move below 1.3376 in due course to clear the way for further weakness to 1.3296 and eventually a retest of medium-term support at 1.3189/35 – the 38.2% retracement of the 2020/2021 uptrend and 2021 lows. We would look for a fresh floor here. Should weakness extend this would warn of a significant break lower with support seen next at 1.2855/29.” Read more...

GBP/USD

Overview
Today last price	1.3443
Today Daily Change	0.0046
Today Daily Change %	0.34
Today daily open	1.3397

Trends
Daily SMA20	1.3561
Daily SMA50	1.3418
Daily SMA100	1.3525
Daily SMA200	1.3721

Levels
Previous Daily High	1.3433
Previous Daily Low	1.3365
Previous Weekly High	1.3566
Previous Weekly Low	1.3358
Previous Monthly High	1.355
Previous Monthly Low	1.3161
Daily Fibonacci 38.2%	1.3407
Daily Fibonacci 61.8%	1.3391
Daily Pivot Point S1	1.3364
Daily Pivot Point S2	1.333
Daily Pivot Point S3	1.3296
Daily Pivot Point R1	1.3432
Daily Pivot Point R2	1.3466
Daily Pivot Point R3	1.3499

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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