Pound Sterling Price News and Forecast GBP/USD: Will the Bank of England step out?

FXStreet Team FXStreet

GBP/USD drops further to 1.3890, but secures weekly gains

Dollar gains momentum late on Friday and trims weekly losses. Cable heads for biggest weekly gain since May. Next week's key events: NFP and Bank of England meeting. The GBP/USD failed to hold to gains on Friday and tumbled to 1.3890, reaching the lowest levels since Wednesday. Despite the decline, cable is about to post the biggest weekly gain since early May, boosted by a weaker US dollar across the board. Read more...

GBP/USD

Overview
Today last price	1.3903
Today Daily Change	-0.0056
Today Daily Change %	-0.40
Today daily open	1.3959

Trends
Daily SMA20	1.381
Daily SMA50	1.3952
Daily SMA100	1.3924
Daily SMA200	1.3731

Levels
Previous Daily High	1.3982
Previous Daily Low	1.3898
Previous Weekly High	1.3787
Previous Weekly Low	1.3572
Previous Monthly High	1.4249
Previous Monthly Low	1.3787
Daily Fibonacci 38.2%	1.395
Daily Fibonacci 61.8%	1.393
Daily Pivot Point S1	1.3911
Daily Pivot Point S2	1.3863
Daily Pivot Point S3	1.3827
Daily Pivot Point R1	1.3994
Daily Pivot Point R2	1.403
Daily Pivot Point R3	1.4078

GBP/USD Weekly Forecast: Will the Bank of England step out?

Improving COVID and strengthening economy encourage sterling. BoE meeting next week brings rate hike speculation. The contrast between Federal Reserve and BOE policies benefits the pound. The rapidly improving coronavirus situation in the UK, a strengthening economy and rising inflation helped propel the sterling to its best close against the US dollar in a month. The GBP/USD rose 1.2% on the week, is up 2.1% since its low of 1.3628 eight sessions ago and reversed on Friday just shy of the 61.8% Fibonacci retracement of the May 31 to July 20 4.1% decline. Read more...

GBP/USD Analysis: Bulls remain in control, move beyond 1.4000 mark awaited

The GBP/USD pair reversed an intraday dip to the 1.3935 region and turned positive for the fifth consecutive session on Friday. The uptick pushed the pair back closer to the highest level since June 24 touched in the previous session and was sponsored by a combination of factors. The British pound has been one of the top-performing major currencies this week and was supported by falling COVID-19 cases in the UK. Read more...

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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.