GBP/USD hits weekly lows under 1.4100 as the US dollar soars

The GBP/USD is falling more than 50 pips and is back under the 20-day moving average for the first time in a month. A rally of the US dollar across the board sent cable to the 1.4100 area, after trading above 1.4200, during the European session. It bottomed at 1.4099. Data boosts the US dollar across the board on Thursday. Cable heads for lowest daily close since May 14. Read more...

GBP/USD

Overview
Today last price 1.4107
Today Daily Change -0.0064
Today Daily Change % -0.45
Today daily open 1.4171
 
Trends
Daily SMA20 1.4124
Daily SMA50 1.395
Daily SMA100 1.3889
Daily SMA200 1.3543
 
Levels
Previous Daily High 1.4183
Previous Daily Low 1.4111
Previous Weekly High 1.4219
Previous Weekly Low 1.4092
Previous Monthly High 1.4234
Previous Monthly Low 1.3801
Daily Fibonacci 38.2% 1.4156
Daily Fibonacci 61.8% 1.4139
Daily Pivot Point S1 1.4127
Daily Pivot Point S2 1.4083
Daily Pivot Point S3 1.4055
Daily Pivot Point R1 1.4199
Daily Pivot Point R2 1.4227
Daily Pivot Point R3 1.4271

 

GBP/USD Forecast: Test of the 1.4000 threshold on the cards

The GBP/USD pair trades at around 1.4085, not far from a daily low at 1.4091. The pair peaked at 1.4202 for the day, as the pound found support in an upbeat Markit report, which showed that the UK’s Services PMI expanded by more than anticipated in May, hitting 62.9. Concerns about US tapering weighed on equities, which dragged lower high-yielding currencies. Resurgent demand for the dollar pushed the pair further lower after the release of better than expected US data. Read more...

GBP/USD slides back closer to session lows, around mid-1.4100s post-US data

GBP/USD failed to preserve upbeat UK PMI-inspired modest intraday gains to the 1.4200 mark. A combination of factors continued underpinning the USD and capped the upside for the major. Better-than-expected US ADP report, jobless claims did little to provide any meaningful impetus. The GBP/USD pair struggled to capitalize on its intraday positive move and has now retreated over 50 pips from daily swing highs. The pair has now dropped to the lower end of its daily trading range and was last seen hovering around mid-1.4100s post-US ADP report. 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 Join Telegram

Recommended content


Recommended content

Editors’ Picks

GBP/USD rises above 1.2100 ahead of UK inflation

GBP/USD rises above 1.2100 ahead of UK inflation

GBP/USD cheers the broad US dollar weakness while picking up bids to refresh the intraday high around 1.2115 ahead of the UK inflation releases. The BOE has long been criticized for undertaking a softer attack on inflation mainly by the current UK PM front runner Liz Truss and her team.

GBP/USD News

EUR/USD: 1.0100 remains in sight below 21 DMA, EU GDP, Fed minutes awaited

EUR/USD: 1.0100 remains in sight below 21 DMA, EU GDP, Fed minutes awaited

EUR/USD consolidates the previous rebound amid a cautiously optimistic mood. US dollar takes a breather ahead of Fed minutes, the euro awaits Eurozone GDP. The shared currency remains weighed down by recession fears and gas crises.

EUR/USD News

Gold bears are lurking below $1,785

Gold bears are lurking below $1,785

Gold is flat on the day trading at around $1,776.50 and sticking to a tight range of between $1,773.91 to a high of $1,776.85. The yellow metal fell due to rising Treasury yields weighed on investor appetite. A slightly stronger US dollar was also a headwind for investor demand. 

Gold News

Solana price hints at a 50% upswing under these specific conditions

Solana price hints at a 50% upswing under these specific conditions

Solana price shows an interesting setup as it tries to overcome a stiff resistance level. The fifth attempt to overcome hurdles will likely be successful due to multiple bullish confluences. Solana price has been on a clear uptrend since producing the June 14 swing low at $25.76.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures