VIANEWS – In the mid-European session, the GBP/USD dropped to five-and-a-half-month lows. Bears are now looking for a sustained breach below the 1.3600 level.
According to FXStreet, the pair maintained its downward trend from slightly over the 1.33900 level. There was some follow-through trade on Tuesday. It was also the sixth consecutive day of negative movement in the previous six days. Several reasons contributed to this decision.
GBP/USD (GBPUSD) is currently on bullish momentum. At 13:06 EST on Wednesday, 21 July, GBP/USD (GBPUSD) is at 1.3709, 0.5963% up since the last session’s close.
GBP/USD (GBPUSD) Range
Concerning GBP/USD’s daily highs and lows, it’s 0.322% up from its trailing 24 hours low of $1.37 and 0.234% up from its trailing 24 hours high of $1.37.
GBP/USD’s yearly highs and lows, it’s 8.406% up from its 52-week low and 3.776% down from its 52-week high.
GBP/USD’s last week, last month’s, and last quarter’s current volatility was a negative 0.25%, a negative 0.14%, 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 0.46% (last week), 0.44% (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 overbought (>=80).
Last news about GBP/USD (GBPUSD)
Gbp/usd approaches 1.3700 as the US dollar drops further. According to FXStreet on Wednesday, 21 July, “From a technical perspective, GBP/USD is about to test the 200-day moving average that is at 1.3699. “, “The GBP/USD rose further during the American session and printed a fresh daily high at 1.3694. ”
Pound sterling price news and forecast: gbp/usd cable hits 11-week low, pressures 200dma support. According to FXStreet on Monday, 19 July, “Below 1.3742/34, GBP/USD can resolve the range lower for a test of more important medium-term support seen starting at the 200-day average at 1.3697 and stretching down to 1.3669/48 – the April low and 38.2% retracement of the rally from last September.” Read more…”
Gbp/usd struggles near multi-month lows, around 1.3600 mark. According to FXStreet on Wednesday, 21 July, “This, along with the resurgence of the COVID-19 infections in the UK, acted as a headwind for the British pound and exerted pressure on the GBP/USD pair.”, “This, along with sustained US dollar buying interest, further contributed to the weaker tone surrounding the GBP/USD pair.”
Gbp/usd forex signal: potential bounce ahead of freedom day – 19 July 2021. According to DailyForex on Monday, 19 July, “The GBP/USD pair was in the red in early trading as the UK heads for full reopening and as some analysts press the Bank of England (BOE) to end its support program. “, “At the same time, the GBP/USD is reacting to hints that the Bank of England will turn hawkish in its upcoming meeting. ”
Gbp/usd price analysis: challenges critical support near 1.3630 after 200-dma caves in. According to FXStreet on Tuesday, 20 July, “Concerns over escalating covid cases in the UK amid the reopening prompted GBP/USD to breach the horizontal (orange) trendline support at 1.3633 on the daily sticks.”
News about USD/JPY
Usd/jpy recovers modestly after dropping to multi-week lows near 109.00. According to FXStreet on Monday, 19 July, “Meanwhile, the benchmark 10-year US Treasury bond yield is losing more than 7%, making it difficult for USD/JPY to erase its losses.”
Usd/jpy extends rebound, approaches 110.00 as US yields soar. According to FXStreet on Tuesday, 20 July, “The chart still shows the USD/JPY with a bearish bias but the rebound alleviated the pressure. ”
Usd/jpy trades with modest gains around mid-109.00s, upside seems limited. According to FXStreet on Tuesday, 20 July, “This further makes it prudent to wait for some strong follow-through buying before confirming that the USD/JPY pair has bottomed out in the near term and positioning for any further appreciating move.”, “The USD/JPY pair, for now, seems to have stalled its recent sharp pullback from YTD tops, around the 111.65 region and was supported by a combination of factors.”
According to DailyForex on Sunday, 18 July, “For the month of July, we forecasted that the EUR/USD currency pair will fall in value, while the USD/JPY currency pair will rise in value. ”
More news about GBP/USD (GBPUSD).