Pound Sterling Price News and Forecast: GBP/USD technical rebound could be in the offing

FXStreet Team FXStreet

GBP/USD Weekly Forecast: A technical rebound could be in the offing

Having tested levels below 1.1900 a week ago, GBP/USD lost further ground and hit a new 28-month low of 1.1760 amid a combination of factors that worked against the British pound. The US inflation stood out in the week and added extra legs to the ongoing US dollar rally. Looking ahead, UK employment and inflation will hold the key as the Fed enters the ‘blackout period’. Read more...

GBP/USD sticks to modest gains below mid-1.1800s, moves little post-US Retail Sales

The GBP/USD pair held on to its modest intraday gains, below the 1.1850 region, through the early North American session and moved little in reaction to upbeat US macro data. Retail Sales rose 1% in June, better than estimates for a 0.8% increase. Adding to this, the previous month's reading was also revised higher to show a 0.1% decline as against the 0.3% fall reported earlier. Furthermore, excluding autos, core retail sales also surpassed expectations and climbed 1% in June, up from the 0.5% increase in the previous month. Read more...

GBP/USD

Overview
Today last price	1.1865
Today Daily Change	0.0042
Today Daily Change %	0.36
Today daily open	1.1823

Trends
Daily SMA20	1.2097
Daily SMA50	1.2293
Daily SMA100	1.2658
Daily SMA200	1.3081

Levels
Previous Daily High	1.1895
Previous Daily Low	1.176
Previous Weekly High	1.2165
Previous Weekly Low	1.1876
Previous Monthly High	1.2617
Previous Monthly Low	1.1934
Daily Fibonacci 38.2%	1.1812
Daily Fibonacci 61.8%	1.1844
Daily Pivot Point S1	1.1757
Daily Pivot Point S2	1.1691
Daily Pivot Point S3	1.1622
Daily Pivot Point R1	1.1892
Daily Pivot Point R2	1.1961
Daily Pivot Point R3	1.2027

GBP/USD Forecast: Pound could rebound on weak US data

GBP/USD has recovered and steadied above 1.1800 early Friday after having suffered heavy losses on Thursday. Investors await key macroeconomic data releases from the US and the dollar could face selling pressure in case the probability of a 100 basis points (bps) rate hike in July continues to decline. Read more...

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FXStreet Team

FXStreet

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