Pound Sterling Price News and Forecast: GBP/USD tests support zone

FXStreet Team FXStreet

GBP/USD outlook: Pound extends weakness on signals of new COVID-19 restrictions

Cable lost traction and fell to new December’s low in December, coming under fresh pressure on reports that new Covid rules in the UK are imminent.

Media reports suggest that PM Johnson could introduce new restrictions to curb the spread of new Omicron variant, with new measures to be implemented as early as tomorrow.

This would further weaken the pound ahead of highly anticipated BoE policy meeting next week. Read more...

GBP/USD analysis: Tests support zone

The GBP/USD currency exchange rate has been finding support in the 1.3195/1.3210 zone. However, the rate had retraced up to the resistance of the 100-hour simple moving average and the weekly simple moving average near 1.3265, before the second decline to the support zone.

In the case that the pair passes the support zone of 1.3195/1.3210, the GBP/USD might look for support in the weekly S1 simple pivot point at 1.3167. Further below, note the 1.3100 mark and the weekly S2 simple pivot point at 1.3093. Read more...

GBP/USD Forecast: Bearish potential intact, further decline remains on the cards

The GBP/USD pair struggled to capitalize on the overnight bounce from the 1.3210-1.3200 support area and witnessed a subdued/range-bound price action through the early European session on Wednesday. A combination of factors continued acting as a headwind for the British pound and capped the upside for the major. However, a modest US dollar weakness held back bearish traders from placing aggressive bets and limited the downside, at least for the time being. Read more...

GBP/USD

Overview
Today last price	1.3202
Today Daily Change	-0.0041
Today Daily Change %	-0.31
Today daily open	1.3243

Trends
Daily SMA20	1.3357
Daily SMA50	1.3533
Daily SMA100	1.366
Daily SMA200	1.3795

Levels
Previous Daily High	1.3289
Previous Daily Low	1.3209
Previous Weekly High	1.3371
Previous Weekly Low	1.3194
Previous Monthly High	1.3698
Previous Monthly Low	1.3194
Daily Fibonacci 38.2%	1.324
Daily Fibonacci 61.8%	1.3259
Daily Pivot Point S1	1.3205
Daily Pivot Point S2	1.3167
Daily Pivot Point S3	1.3125
Daily Pivot Point R1	1.3285
Daily Pivot Point R2	1.3327
Daily Pivot Point R3	1.3365

Author

FXStreet Team

FXStreet

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.