Pound Sterling Price News and Forecast: GBP/USD approaches 1.3000 but remains capped by 100-day SMA

GBP/USD holds steady near 1.2950 as traders await US presidential election result

The GBP/USD pair trades flat near 1.2950 during the early Asian session on Tuesday. Traders will closely monitor the outcome of the US presidential election. On Thursday, the attention will shift to the Bank of England (BoE) and the US Federal Reserve (Fed) monetary policy decisions. 

Meanwhile, the US Dollar Index (DXY), which tracks the USD’s value against six major currencies, broke below the 104.00 support and reached fresh two-week lows near 103.60 in response to improved polling for Democratic candidate Kamala Harris. Read more...

GBP/USD Price Forecast: Sterling gains yet fails to clear 1.3000 ahead of US Election

The Pound Sterling trimmed some of last week's losses against the Greenback and registered gains of over 0.46% ahead of a busy economic schedule featuring US Presidential Elections. At the time of writing, the GBP/USD trades at 1.2971 after rebounding off daily lows of 1.2945.

After falling below September’s 11 swing low of 1.3001, the GBP/USD turned neutral to bearish bias, clearing on its way to the 50-day Simple Moving Average (SMA). During the day, the pair hit a daily high of 1.2998, but they could not crack 1.3000. The 100-day SMA at 1.2979 pulled the exchange rate lower. Read more...

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