Pound Sterling Price News and Forecast: GBP/USD time to hit highest level since 2018? US data, UK vaccines key

FXStreet Team FXStreet

GBP/USD drops toward 1.4150 as the US dollar strengthens on economic data

Cable retreats from monthly highs, turns negative for the day. US dollar rises across the board supported by US economic data. The GBP/USD dropped to 1.4153 amid a rally of the US dollar across the board. Cable retreated sharply after hitting at 1.4233 the highest level since February. An impressive reading of the preliminary IHS Markit for May of the service sector boosted the dollar. Also a rebound in US yields contributed to the rally of the greenback. Read more...

GBP/USD

Overview
Today last price	1.4155
Today Daily Change	-0.0036
Today Daily Change %	-0.25
Today daily open	1.4191

Trends
Daily SMA20	1.4003
Daily SMA50	1.3896
Daily SMA100	1.3838
Daily SMA200	1.3497

Levels
Previous Daily High	1.4193
Previous Daily Low	1.4101
Previous Weekly High	1.4166
Previous Weekly Low	1.3982
Previous Monthly High	1.4009
Previous Monthly Low	1.3669
Daily Fibonacci 38.2%	1.4158
Daily Fibonacci 61.8%	1.4136
Daily Pivot Point S1	1.413
Daily Pivot Point S2	1.407
Daily Pivot Point S3	1.4039
Daily Pivot Point R1	1.4222
Daily Pivot Point R2	1.4253
Daily Pivot Point R3	1.4313

GBP/USD Weekly Forecast: Time to hit highest level since 2018? US data, UK vaccines key

GBP/USD has been grinding its way higher amid twin Fed and UK reopening speculation. To taper or not to taper? That has been the question for the Federal Reserve and the dollar, while uncertainty about the UK reopening played a role in moving the pound. US economic releases such as GDP and Durable Goods Orders are set to rock the greenback in the last full week of May. Read more...

GBP/USD Price Analysis: Refreshes multi-month tops and retreats, back below 1.4200

GBP/USD added to the overnight strong move up and gained traction for the second straight day. The intraday uptick stalled near a resistance marked by the top end of an ascending trend channel. The set-up seems titled in favour of bullish traders and supports prospects for an eventual breakout.
The GBP/USD pair shot to fresh three-month tops during the mid-European session, albeit quickly retreated few pips thereafter. Read more...

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FXStreet Team

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