Pound Sterling Price News and Forecast: GBP/USD trades virtually unchanged

FXStreet Team FXStreet

GBP/USD remains defensive near 1.3650 amid steady USD, Fed eyed

GBP/USD remains muted on Wednesday morning following the previous day’s sluggish momentum. The pair confides in a very narrow trade band with no meaningful traction. Supply-chain bottlenecks, higher gas prices limited gains for sterling.

GBP/USD

Overview
Today last price	1.3655
Today Daily Change	-0.0006
Today Daily Change %	-0.04
Today daily open	1.3661

Trends
Daily SMA20	1.3781
Daily SMA50	1.3797
Daily SMA100	1.3908
Daily SMA200	1.384

Levels
Previous Daily High	1.3693
Previous Daily Low	1.3641
Previous Weekly High	1.3913
Previous Weekly Low	1.3728
Previous Monthly High	1.3958
Previous Monthly Low	1.3602
Daily Fibonacci 38.2%	1.3673
Daily Fibonacci 61.8%	1.3661
Daily Pivot Point S1	1.3637
Daily Pivot Point S2	1.3613
Daily Pivot Point S3	1.3585
Daily Pivot Point R1	1.3689
Daily Pivot Point R2	1.3717
Daily Pivot Point R3	1.3741

GBP/USD Forecast: Recovery could end in a screeching halt on a trio of central bank uncertainties

Cable has failed to recapture the broken support line – and that already implies it is set to continue falling. The 1.3730 level provided support twice in recent months and the decisive 90-pip plunge indicates recapturing it will be a struggle.

EUR/USD revisits 1.1780, or daily lows

EUR/USD now comes under further selling pressure, breaking below the 1.1800 support to reach daily troughs on Thursday. The pair’s decline comes in response to a sudden bout of USD strength amid steady geopolitical tensions. Ealier in the day, the ECB’s Lagarde delivered cautious remarks, although the currency remained apathetic.

GBP/USD makes a U-turn, challenges 1.3500

GBP/USD rapidly leaves behind Wednesday’s strong advance, putting the 1.3500 support to the test on Thursday. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold sticks to the bid bias, flirts with $5,200

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The precious metal adds to Wednesday’s optimism despite the Greenback trades in a firm fashion, although geopolitical tensions in the Middle East keep the yellow metal bid for now.