Pound Sterling Price News and Forecast: GBP/USD extends rebound above 1.3550

FXStreet Team FXStreet

GBP/USD Forecast: British pound to struggle to rebound as Brexit tensions escalate

GBP/USD has failed to break above 1.3500 on Friday and started the new week on the back foot amid renewed Brexit tensions following the Bank of England's (BoE) dovish surprise. Unless the pair manages to make a daily close above 1.3500, recovery attempts are likely to remain limited in the near term with fundamental drivers staying bearish. Read more...

BoE's Gov Bailey: Will have to act with rates if we see evidence of higher inflation expectations feeding into wages

The Bank of England's governor, Andrew Bailey, has stated in recent trade that the Old Lady will have to act with rates if there is evidence of higher inflation expectations feeding into wages. Bailey is essentially echoing his recent message about the direction of monetary policy which last week led to a jolt in financial markets. Read more...

GBP/USD extends rebound above 1.3550

The GBP/USD pair is recovering on Monday after falling last week to 1.3423, the lowest level in a month and slightly above the YTD low. During the American session, cable rose to 1.3578, reaching a fresh intraday high. It is hovering around 1.3550, up more than 70 pips for the day. The recovery in GBP/USD is being driven by a weaker US dollar across the board. The greenback is retreating after last week rally, continuing the move that started on Friday after the NFP. Read more...

GBP/USD

Overview
Today last price	1.3562
Today Daily Change	0.0063
Today Daily Change %	0.47
Today daily open	1.3499

Trends
Daily SMA20	1.3693
Daily SMA50	1.3701
Daily SMA100	1.3761
Daily SMA200	1.3849

Levels
Previous Daily High	1.3509
Previous Daily Low	1.3424
Previous Weekly High	1.3698
Previous Weekly Low	1.3424
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3477
Daily Fibonacci 61.8%	1.3457
Daily Pivot Point S1	1.3446
Daily Pivot Point S2	1.3393
Daily Pivot Point S3	1.3361
Daily Pivot Point R1	1.353
Daily Pivot Point R2	1.3562
Daily Pivot Point R3	1.3615

Author

FXStreet Team

FXStreet

EUR/USD retreats toward 1.1600 after upbeat US data

EUR/USD pulls away from session highs and declines toward 1.1600 in the American session on Wednesday. Upbeat private sector employment and ISM Services PMI data from the US help the US Dollar (USD) stay resilient against its rivals, limiting the pair's upside.

GBP/USD meets resistance around 1.3400

In line with its risk-linked peers, GBP/USD stages a modest comeback on Wednesday, although meeting some resistance around the 1.3400 neighbourhood. Cable’s humble recovery struggles to gather momentum as the Greenback benefits from better-than-forecast macroeconomic data releases.

Gold loses traction after testing $5,200

Gold corrects lower after testing $5,200 but manages to stay in positive territory in the second hald of the day on Wednesday. The precious metal remains well supported by the deterioration of the geopolitical scenario in the Middle East, while the US Dollar's resilience caps the upside.