Pound Sterling Price News and Forecast: GBP/USD under pressure amid USD strength, Brexit concerns

FXStreet Team FXStreet

GBP/USD looks south towards 1.3800 amid renewed Brexit woes, USD strength

The selling pressure around GBP/USD remains unabated, as the bears seek a test of the 1.3800 level amid resurfacing Brexit concerns and persistent US dollar’s strength. The greenback continues to draw bids alongside the Treasury yields amid expectations of an earlier tapering by the Fed, in light of Friday’s stronger than expected US Nonfarm Payrolls (NFP) data.

GBP/USD

Overview
Today last price	1.384
Today Daily Change	-0.0007
Today Daily Change %	-0.05
Today daily open	1.3847

Trends
Daily SMA20	1.383
Daily SMA50	1.3913
Daily SMA100	1.3923
Daily SMA200	1.3763

Levels
Previous Daily High	1.3894
Previous Daily Low	1.3841
Previous Weekly High	1.3958
Previous Weekly Low	1.3861
Previous Monthly High	1.3984
Previous Monthly Low	1.3572
Daily Fibonacci 38.2%	1.3861
Daily Fibonacci 61.8%	1.3874
Daily Pivot Point S1	1.3827
Daily Pivot Point S2	1.3807
Daily Pivot Point S3	1.3773
Daily Pivot Point R1	1.3881
Daily Pivot Point R2	1.3914
Daily Pivot Point R3	1.3934

Weekly technical and trading outlook – GBP/USD

GBP/USD - 1.3860.. Trading cable was tricky as price swung wildly. The pound fell to 1.3876 Mon n rebounded to 1.3957 (Wed), then dropped to 1.3873 b4 bouncings to 1.3949 in post-BOE Super Thur but later tumbled to 1.3862 on Fri.

On the bigger picture, despite cable's brief break of 2016 post-Brexit low of 1.1491 to a near 35-year trough of 1.1412 in mid-Mar 2020 on safe-haven USD's demand following free fall in global stocks, price rallied to 1.3686 on the last trading day of 2020 following a last-minute EU-UK trade deal, then to a near 34-month, 1.4241 peak in late Feb suggests a major low is made.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.