Pound Sterling Price News and Forecast: GBP/USD fades recovery moves, the heaviest in one week


GBP/USD: AUKUS, UK PM Johnson’s reshuffle test bulls around 1.3850, US Retail Sales eyed

GBP/USD struggles to keep the rebound from a weekly low of around 1.3850 during Thursday’s Asian session. The cable pair posted the heaviest upside in a week following a broad US dollar downside amid the risk-on mood. However, the latest challenges to the market sentiment and caution ahead of another important data to determine the Fed’s next move question the upside moves.

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GBP/USD

Overview
Today last price 1.3844
Today Daily Change 0.0002
Today Daily Change % 0.01
Today daily open 1.3842
 
Trends
Daily SMA20 1.3774
Daily SMA50 1.3808
Daily SMA100 1.3915
Daily SMA200 1.3832
 
Levels
Previous Daily High 1.3854
Previous Daily Low 1.3792
Previous Weekly High 1.3889
Previous Weekly Low 1.3726
Previous Monthly High 1.3958
Previous Monthly Low 1.3602
Daily Fibonacci 38.2% 1.383
Daily Fibonacci 61.8% 1.3816
Daily Pivot Point S1 1.3805
Daily Pivot Point S2 1.3768
Daily Pivot Point S3 1.3744
Daily Pivot Point R1 1.3866
Daily Pivot Point R2 1.389
Daily Pivot Point R3 1.3927

 

GBP/USD analysis: Finds support in 1.3800

The GBP/USD currency exchange rate found support in the 1.3800 level just after GMT midnight to Wednesday. At mid-day the pair was testing and piercing the resistance of the 55, 100 and 200-hour simple moving averages in the 1.3825/1.3840 zone.

If the pair manages to pass the resistance of the SMAs, it could once again test the weekly R1 simple pivot point at 1.3910 level. However, on its way up the GBP/USD might be slowed down by the 1.3900 mark.

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