(VIANEWS) – The GBP/USD currency rate was broken on Monday morning. This broke the channel down large-scale pattern that had been guiding the rate since July’s beginning.
FXStreet stated that the rise in rate may reach the resistance at 1.3800. This mark provided support and resistance throughout July. The weekly R1 pivot point at 1.3835, which is the simple weekly pivot point, could offer resistance.
Cable will likely maintain its consolidative phase in the 1.3600-1.3830 area over the coming weeks, according to UOB Group FX Strategists.
GBP/USD (GBPUSD) is currently on bullish momentum. At 11:06 EST on Monday, 26 July, GBP/USD (GBPUSD) is at 1.3826, 0.5212% up since the last session’s close.
GBP/USD (GBPUSD) Range
Regarding GBP/USD’s daily highs and lows, it’s 0.567% up from its trailing 24 hours low of $1.37 and 0.399% up from its trailing 24 hours high of $1.38.
GBP/USD’s yearly highs and lows, it’s 9.038% up from its 52-week low and 2.955% down from its 52-week high.
GBP/USD’s last week, last month’s, and last quarter’s current volatility was a negative 0.09%, a negative 0.18%, and a positive 0.47%, respectively.
GBP/USD’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 0.49% (last week), 0.40% (last month), and 0.47% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, GBP/USD’s Forex is considered to be oversold (<=20).
Last news about GBP/USD (GBPUSD)
Gbp/usd pares intraday losses, down little around mid-1.3700s. According to FXStreet on Friday, 23 July, “The risk-on impulse undermined the safe-haven greenback and assisted the GBP/USD pair to find decent support near the 1.3720 area.”, “It will now be interesting to see if the GBP/USD pair is able to capitalize on the attempted recovery move or continues with its struggle to move back above the 1.3800 mark. ”
Pound sterling price news and forecast: gbp/usd extends the pullback from weekly tops. According to FXStreet on Friday, 23 July, “The GBP/USD pair remained on the defensive following the release of mixed UK Retail Sales figures and was last seen hovering near daily lows, around mid-1.3700s.”, “The GBP/USD pair extended its steady intraday descent through the first half of the European session and dropped to fresh daily lows, around the 1.3725 region in the last hour.”
Gbp/usd remains depressed below mid-1.3700s. According to FXStreet on Monday, 26 July, “The GBP/USD pair remained on the defensive heading into the European session and was last seen hovering near daily lows, around the 1.3740-35 region.”, “In the absence of any major market-moving economic releases, either from the UK or the US, this might help limit any deeper losses for the GBP/USD pair, at least for the time being.”
Gbp/usd price analysis: extends the pullback from weekly tops, further below mid-1.3700s. According to FXStreet on Friday, 23 July, “A convincing break below has the potential to drag the GBP/USD pair back towards the 1.3600 mark en-route monthly lows, around the 1.3570 region. “, “From a technical perspective, the GBP/USD pair struggled to capitalize on this week’s solid rebound from sub-1.3600 levels, or the lowest level since February and faced rejection near 200-hour SMA. ”
News about EUR/USD
According to FXStreet on Friday, 23 July, “The EUR/USD pair showed no immediate reaction to these remarks and was last seen trading flat on the day at 1.1767.”
Eur/usd remains vulnerable near 1.1750. According to FXStreet on Friday, 23 July, “The EUR/USD is about to post the second weekly decline in a row and the second-lowest since October of last year. “, “The EUR/USD remains unable to make a sustained recovery and it keeps pressuring the 1.1750 area. ”
According to FXStreet on Friday, 23 July, “The shared currency got a fresh boost from upbeat German and Eurozone Business PMIs, fuelling a bounce in EUR/USD from 1.1763 daily lows.”
Eur/usd remains under pressure, loses traction near 1.1790. According to FXStreet on Friday, 23 July, “The single currency moves within a narrow range, with EUR/USD navigating around 1.1770 on Friday.”
More news about GBP/USD (GBPUSD).