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


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.

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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.

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