Pound Sterling Price News and Forecast: GBP/USD drops amid strong US Dollar

FXStreet Team FXStreet

GBP/USD drops amid strong US Dollar, lower rate hike BoE’s expectations

GBP/USD continued to drop late in the North American session following upbeat data in the United Kingdom (UK), but the market turned south as news emerging from Japan strengthened the greenback, which appreciated against most G7 currencies. The GBP/USD trades at 1.2851, losing 0012%, after hitting a daily high of 1.2904. Read More...

Pound Sterling rebounds swiftly as upbeat Retail Sales offset inflation softening

The Pound Sterling (GBP) delivers a solid recovery near 1.2820 as the United Kingdom Retail Sales data turned out more resilient than expected. The GBP/USD pair rebounds swiftly as consumer spending growth expanded strongly in June. Monthly Retail Sales in June expanded by 0.7% vs. expectations of 0.2%. Annual consumer spending data contracted by 1.0% against the consensus of -1.5%. Read More...

GBP/USD faces strong support around 1.2780 – UOB

While extra downside in GBP/USD remains on the cards, there is a strong support around 1.2780 according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

GBP/USD

Overview
Today last price	1.286
Today Daily Change	-0.0007
Today Daily Change %	-0.05
Today daily open	1.2867

Trends
Daily SMA20	1.2837
Daily SMA50	1.265
Daily SMA100	1.25
Daily SMA200	1.2238

Levels
Previous Daily High	1.2965
Previous Daily Low	1.284
Previous Weekly High	1.3142
Previous Weekly Low	1.275
Previous Monthly High	1.2848
Previous Monthly Low	1.2369
Daily Fibonacci 38.2%	1.2888
Daily Fibonacci 61.8%	1.2917
Daily Pivot Point S1	1.2817
Daily Pivot Point S2	1.2766
Daily Pivot Point S3	1.2692
Daily Pivot Point R1	1.2941
Daily Pivot Point R2	1.3015
Daily Pivot Point R3	1.3066

Author

FXStreet Team

FXStreet

EUR/USD keeps the offered stance just above 1.1700

EUR/USD is coming under heavy selling pressure in what has been a rather grim start to the new trading week, with the pair now trading close to the 1.1700 support area as the US Dollar stages a solid rebound. The prevailing flight to safety mood continues to favour the Greenback, as investors react to the escalating conflict in the Middle East and trim risk exposure across the board.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold trims losses, back below $5,400

Gold now surrenders part of the earlier advance past the $5,400 mark per troy ounce at the beginning of the week. Indeed, the precious metal’s strong uptick remains fuelled by increasing geopolitical tensions in the Middle East amid the intense demand for safer assets.

Bitcoin on brink of breakdown amid US-Iran war

Bitcoin (BTC) remains under pressure near the key support level of $65,700. Trading at $66,400 at the time of writing on Monday, a breakdown below this critical level would suggest a deeper correction ahead.

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