Pound Sterling Price News and Forecast: GBP/USD accumulates minor gains


GBP/USD rebounds toward 1.3900 as USD weakens

GBP/USD extends the previous two day’s gains in Wednesday’s Asian session. The pair trades in a very narrow trade band and awaits for confirmation. At the time of writing, GBP/USD is trading at 1.3879, up 0.04% for the day.

The US Dollar Index (DXY), which tracks the greenback performance against its six major rivals, trades below  92.50, with 0.17% losses. Investors remain nervous about the Fed’s interests rate decision.

Read More ...

GBP/USD

Overview
Today last price 1.3883
Today Daily Change 0.0004
Today Daily Change % 0.03
Today daily open 1.3879
 
Trends
Daily SMA20 1.3797
Daily SMA50 1.3961
Daily SMA100 1.3924
Daily SMA200 1.3723
 
Levels
Previous Daily High 1.3894
Previous Daily Low 1.3767
Previous Weekly High 1.3787
Previous Weekly Low 1.3572
Previous Monthly High 1.4249
Previous Monthly Low 1.3787
Daily Fibonacci 38.2% 1.3846
Daily Fibonacci 61.8% 1.3816
Daily Pivot Point S1 1.3799
Daily Pivot Point S2 1.3719
Daily Pivot Point S3 1.3672
Daily Pivot Point R1 1.3927
Daily Pivot Point R2 1.3974
Daily Pivot Point R3 1.4054

 

Technical analysis: Will the GBP/USD retreat reverse?

The GBPUSD technical analysis of the price chart on a 1-hour timeframe shows GBPUSD: H1 is retracing above the 200-period moving average MA(200) which is falling itself. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 1.3765. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 1.3828. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Read More ...

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD stays weak near 1.0400 as trading conditions thin out

EUR/USD stays weak near 1.0400 as trading conditions thin out

EUR/USD trades with mild losses near 1.0400 on Tuesday. The expectation that the US Federal Reserve will deliver fewer rate cuts in 2025 provides some support for the US Dollar. Trading volumes are likely to remain low heading into the Christmas break.

EUR/USD News
GBP/USD consolidates below 1.2550 on stronger US Dollar

GBP/USD consolidates below 1.2550 on stronger US Dollar

GBP/USD consolidates in a range below 1.2550 on Tuesday, within striking distance of its lowest level since May touched last week. The sustained US Dollar rebound and the technical setup suggest that the pair remains exposed to downside risks. 

GBP/USD News
Gold holds above $2,600, bulls non-committed on hawkish Fed outlook

Gold holds above $2,600, bulls non-committed on hawkish Fed outlook

Gold trades in a narrow channel above $2,600 on Tuesday, albeit lacking strong follow-through buying. Geopolitical tensions and trade war fears lend support to the safe-haven XAU/USD, while the Fed’s hawkish shift acts as a tailwind for the USD and caps the precious metal.

Gold News
IRS says crypto staking should be taxed in response to lawsuit

IRS says crypto staking should be taxed in response to lawsuit

In a filing on Monday, the US International Revenue Service stated that the rewards gotten from staking cryptocurrencies should be taxed, responding to a lawsuit from couple Joshua and Jessica Jarrett.

Read more
2025 outlook: What is next for developed economies and currencies?

2025 outlook: What is next for developed economies and currencies?

As the door closes in 2024, and while the year feels like it has passed in the blink of an eye, a lot has happened. If I had to summarise it all in four words, it would be: ‘a year of surprises’.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures