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: Bears retain control below 1.1780-1.1770 confluence breakpoint

The EUR/USD pair remains on the back foot through the Asian session on Friday and currently trades just above mid-1.1700s, well within striking distance of a nearly one-month low set the previous day.

GBP/USD seems vulnerable near one-month low vs. USD as traders await US data

The GBP/USD pair prolongs its weekly downtrend for the fifth consecutive day on Friday and slides back closer to a nearly one-month low, touched the previous day. Spot prices trade below mid-1.3400s during the Asian session on Friday and seem vulnerable to slide further as traders now look to important US macro data for a fresh impetus.

Gold eyes next breakout on US GDP, PCE inflation data

Gold sticks to recent gains around the $5,000-mark early Friday, biding time before the high-impact US macro events. The focus is now on the US fourth-quarter Gross Domestic Product, core Personal Consumption Expenditures Price Index and the Supreme Court’s ruling on President Donald Trump’s tariffs.

Bitcoin, Ethereum and Ripple remain range-bound as breakdown risks rise

Bitcoin, Ethereum, and Ripple are trading sideways within consolidation ranges on Friday, signaling a lack of directional bias in the broader crypto market. BTC rebounded from key support, and ETH is nearing the lower consolidation boundary, while XRP is holding at its lower trendline boundary.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.