Pound Sterling Price News and Forecast: GBP/USD waiting for a bullish breakout

FXStreet Team FXStreet

GBP/USD Forecast: Recovering from the Fed? Not so fast, as sterling faces UK reopening risks

Freedom Day may be less free than anticipated – The UK may dilute plans to relax COVID-19 rules on June 21 due to worries about the India variant. While the number of people infected with the B.1.617.2 strain of coronavirus remains small, it is growing rapidly – 28% from Monday to Wednesday. The new worries about delaying the reopening come despite reassurances that existing vaccines cope with the variant. Read more...

GBP/USD Forecast: Waiting for a bullish breakout

The GBP/USD pair bounced back, and trades near a daily high of 1.4189 as demand for the dollar receded. The market continues trading according to expectations of rising inflationary pressures in the US and how those could affect the Federal Reserve monetary policy. The favourite measures are government bond yields, which soared with FOMC Minutes on Wednesday, but quickly retreated to end Thursday near weekly lows. Read more...

GBP/USD: Minor support at 1.4115/05

GBPUSD minor support at 1.4115/05. A break lower targets 100 month moving average support at 1.4080/60, perhaps as far as support at 1.4025/15. Gains are likely to be limited with minor resistance at 1.4135/40 & 1.4160/70. Important 6 month trend line resistance now at 1.4220/30. A break higher targets strong 200 week moving average resistance at 1.4300/10. Read more...

GBP/USD

Overview
Today last price	1.4186
Today Daily Change	0.0071
Today Daily Change %	0.50
Today daily open	1.4115

Trends
Daily SMA20	1.3985
Daily SMA50	1.3892
Daily SMA100	1.3833
Daily SMA200	1.3491

Levels
Previous Daily High	1.4201
Previous Daily Low	1.41
Previous Weekly High	1.4166
Previous Weekly Low	1.3982
Previous Monthly High	1.4009
Previous Monthly Low	1.3669
Daily Fibonacci 38.2%	1.4138
Daily Fibonacci 61.8%	1.4162
Daily Pivot Point S1	1.4076
Daily Pivot Point S2	1.4037
Daily Pivot Point S3	1.3974
Daily Pivot Point R1	1.4177
Daily Pivot Point R2	1.424
Daily Pivot Point R3	1.4278

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.