Pound Sterling Price News and Forecast: GBP/USD keeps bounce off four-month low

FXStreet Team FXStreet

GBP/USD Price Analysis: GBP/USD bears on the prowl, 1.30 vulnerable

GBP/USD is stalling in the sell-off as the price moves into what could be deemed as a solid longer-term demand area. However, there is room to go with 1.2850 in focus for the days and weeks ahead. In the meantime, there are prospects of a bullish correction as per the daily chart.

GBP/USD keeps bounce off four-month low around mid-1.3000s ahead of Fed

GBP/USD treads water around 1.3040-50 amid anxious market conditions during Wednesday’s Asian session. The cable pair snapped a three-day downtrend to bounce off the lowest levels since November 2021 following the upbeat UK jobs report. Also on the positive side was the US dollar’s retreat amid pre-Fed caution.

GBP/USD

Overview
Today last price	1.3053
Today Daily Change	0.0011
Today Daily Change %	0.08
Today daily open	1.3042

Trends
Daily SMA20	1.3331
Daily SMA50	1.3466
Daily SMA100	1.3438
Daily SMA200	1.3615

Levels
Previous Daily High	1.3089
Previous Daily Low	1.3
Previous Weekly High	1.3246
Previous Weekly Low	1.3028
Previous Monthly High	1.3644
Previous Monthly Low	1.3273
Daily Fibonacci 38.2%	1.3055
Daily Fibonacci 61.8%	1.3034
Daily Pivot Point S1	1.2999
Daily Pivot Point S2	1.2956
Daily Pivot Point S3	1.2911
Daily Pivot Point R1	1.3087
Daily Pivot Point R2	1.3132
Daily Pivot Point R3	1.3176

Author

FXStreet Team

FXStreet

EUR/USD struggles to regain momentum in the low1.1600s

EUR/USD is giving some signs of life in the aftermath of two severe days of losses on Wednesday, reclaiming the 1.1600 hurdle and above on the back of the resurgence of a mild selling bias around the US Dollar. Moving forward, the usual US weekly Claims will take centre stage on Thursday ahead of Friday’s crucial NFP data.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold recovers modestly despite intensifying Middle East crisis

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.