Pound Sterling Price News and Forecast: GBPUSD seesaws near a one-week high

FXStreet Team FXStreet

GBPUSD retreats to 1.1500 despite UK’s political optimism, US inflation, British GDP eyed

GBPUSD struggles to extend the two-day uptrend during Tuesday’s Asian session, easing back to 1.1505, as bulls take a breather amid a light calendar. In doing so, the Cable pair fails to cheer the upbeat news from the UK while waiting for the week’s key events.

GBP/USD

Overview
Today last price	1.1504
Today Daily Change	-0.0007
Today Daily Change %	-0.06
Today daily open	1.1511

Trends
Daily SMA20	1.1347
Daily SMA50	1.1335
Daily SMA100	1.1687
Daily SMA200	1.2305

Levels
Previous Daily High	1.1542
Previous Daily Low	1.1291
Previous Weekly High	1.1614
Previous Weekly Low	1.1147
Previous Monthly High	1.1646
Previous Monthly Low	1.0924
Daily Fibonacci 38.2%	1.1446
Daily Fibonacci 61.8%	1.1387
Daily Pivot Point S1	1.1354
Daily Pivot Point S2	1.1197
Daily Pivot Point S3	1.1103
Daily Pivot Point R1	1.1605
Daily Pivot Point R2	1.1699
Daily Pivot Point R3	1.1856

GBPUSD outlook: The Cable extends advance, eyes 1.15 barrier

Cable surges above 1.14 handle in European trading on Monday, in extension of Friday’s bounce from strong support at 1.1150 (Fibo 38.2% of 1.0348/1.1645) where a double bottom was left. Fresh advance was sparked by renewed risk mode and so far retraced slightly over 61.8% of 1.1645/1.1146 bear-leg, generating a reversal signal.

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