Pound Sterling Price News and Forecast: GBP/USD trades below 1.4200

FXStreet Team FXStreet

GBP/USD Forecast: Correction is over, fresh Powell-powered attack on 1.42 looks imminent

One hundred pips off the highs but in a far better shape – Thursday's GBP/USD chart is showing an exit out of the overbought territory and fundamental conditions have also improved. Markets seemed to have been waiting for a further reassuring from Jerome Powell, Chairman of the Federal Reserve, before making another convincing move higher. The upbeat mood is adverse for the dollar, despite higher bond yields.

The world's most powerful central banker seemed determined to push inflation higher, aiming to reach the Fed's 2% target within three years. With investors fearing higher prices – and rate hikes – much sooner, Powell all but dismissed fears of rising prices and committed to printing dollars. Read more...

GBP/USD analysis: Trades below 1.4200

Yesterday, the GBP/USD exchange rate failed to exceed the psychological level at 1.4200. It is likely that the currency pair could gain support from the 55–" and 100-hour SMAs, as well the weekly R1 in the 1.4100 area. Thus, some upside potential could prevail in the market.

Note that the pair could face the resistance level–"the weekly R3 at 1.4299. If the given level holds, the rate could bounce off. Otherwise, the pair could target the 1.4350/1.4400 range. Read more...

GBP/USD holds steady near mid-1.4100s

The GBP/USD pair refreshed daily lows during the early European session, albeit quickly recovered few pips thereafter. The pair was last seen trading near mid-1.4100s, up around 0.10% for the day.

Following an early uptick to the 1.4170 region, the pair witnessed some selling and quickly retreated around 50 pips in the last hour. However, a combination of factors helped limit any further decline, instead assisted the GBP/USD pair to attract some dip-buying near the 1.4120 region. Read more...

GBP/USD

Overview
Today last price	1.4134
Today Daily Change	-0.0003
Today Daily Change %	-0.02
Today daily open	1.4137

Trends
Daily SMA20	1.3842
Daily SMA50	1.3692
Daily SMA100	1.3436
Daily SMA200	1.3112

Levels
Previous Daily High	1.4243
Previous Daily Low	1.4082
Previous Weekly High	1.4036
Previous Weekly Low	1.383
Previous Monthly High	1.3759
Previous Monthly Low	1.3451
Daily Fibonacci 38.2%	1.4182
Daily Fibonacci 61.8%	1.4144
Daily Pivot Point S1	1.4065
Daily Pivot Point S2	1.3994
Daily Pivot Point S3	1.3905
Daily Pivot Point R1	1.4226
Daily Pivot Point R2	1.4315
Daily Pivot Point R3	1.4387

Author

FXStreet Team

FXStreet

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.