Pound Sterling Price News and Forecast: GBP/USD erases some of Friday’s gains hovers around 1.3220s

FXStreet Team FXStreet

GBP/USD erases some of Friday’s gains hovers around 1.3220s

The GBP/USD pares some of its last Friday’s gains, slide some 0.32%, trading at 1.3226 during the New York session at the time of writing. Investors’ mood is downbeat, as portrayed by European equities ending in the red, while major US stock indexes are losing between 0.65% and 0.85%. Factors like the first death linked to the omicron variant in the UK dented the market mood amid its fast global spread. In response to increasing COVID-19 cases in the country, Borish Johnson, PM, raised the COVID alert to four. That, alongside the Federal Reserve and Bank of England’s last monetary policy meetings in the year, keep GBP/USD traders at bay, waiting for more clues. Read more...

GBP/USD

Overview
Today last price	1.3215
Today Daily Change	-0.0054
Today Daily Change %	-0.41
Today daily open	1.3269

Trends
Daily SMA20	1.3333
Daily SMA50	1.3518
Daily SMA100	1.3645
Daily SMA200	1.3785

Levels
Previous Daily High	1.3276
Previous Daily Low	1.3192
Previous Weekly High	1.3289
Previous Weekly Low	1.3161
Previous Monthly High	1.3698
Previous Monthly Low	1.3194
Daily Fibonacci 38.2%	1.3244
Daily Fibonacci 61.8%	1.3224
Daily Pivot Point S1	1.3215
Daily Pivot Point S2	1.3161
Daily Pivot Point S3	1.3131
Daily Pivot Point R1	1.33
Daily Pivot Point R2	1.333
Daily Pivot Point R3	1.3384

GBP/USD Forecast: Pound closes in on key support on Omicron fears

After rising toward 1.3300 ahead of the weekend, GBP/USD has failed to preserve its bullish momentum on Monday with the latest coronavirus headlines from the UK weighing on the British pound. In case buyers fail to defend the support area that seems to have formed around 1.3200, the pair could extend its slide in the near term. On Sunday, British Prime Minister Boris Johnson warned that two doses of vaccine would not be enough against the Omicron "tidal wave" that the UK was facing. Additionally, the UK has raised the COVID threat to 'Level 4', one below the maximum. Read more...

Weekly technical and trading outlook – GBP/USD

GBP/USD - 1.3260.. Sterling also went through a roller-coaster ride in tandem with Euro last week. Price initially recovered to 1.1289 (Tue) b4 ratcheting lower to a near 1-year trough of 1.3162 Wed n rebounded to 1.3276 on Fri. On the bigger picture, despite cable's brief break of 2016 post-Brexit low of 1.1491 to a near 35-year trough of 1.1412 in mid-Mar 2020 on safe-haven USD's demand following free fall in global stocks, price rallied to 1.3686 on the last trading day of 2020 following a last-minute EU-UK trade deal, then to a near 34-month, 1.4241 peak in late Feb suggests a major low is made. Read more...

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