Pound Sterling drops amid increasing rate cut expectations by the BoE

FXStreet Team FXStreet

GBP/USD drops amid increasing rate cut expectations by the BoE

The Pound Sterling lost ground against the US Dollar and dropped to its lowest level since November last year as investors began to price in a more dovish Bank of England. A scarce economic docket in the UK, left GBP/USD traders adrift to market mood and dynamics linked to the buck. Therefore, the pair trades at 1.2350, down 0.12%. Read More...

Pound Sterling extends losing streak on firm BoE rate cut prospects

The Pound Sterling (GBP) remains on the back foot in Monday’s early American session as investors continue to price in the Bank of England (BoE) will pivot to interest-rate cuts earlier than the US Federal Reserve (Fed). The GBP/USD pair trades close to a five-month low around 1.2360 as investors expect the Fed will keep its monetary policy framework restrictive for longer. A strong economic outlook and robust consumer spending in the United States are keeping inflation higher. Read More...

GBP/USD rebounds from YTD trough, steadily climbs back closer to 1.2400 mark

The GBP/USD pair stages a modest recovery from the 1.2365-1.2360 area, or its lowest level since November 14 touched during the Asian session on Monday and for now, seems to have snapped a two-day losing streak. The uptick is supported by a modest US Dollar (USD) downtick and lift spot prices back closer to the 1.2400 mark in the last hour, though any meaningful upside still seems elusive. Read More...

GBP/USD

Overview
Today last price	1.2355
Today Daily Change	-0.0018
Today Daily Change %	-0.15
Today daily open	1.2373

Trends
Daily SMA20	1.2561
Daily SMA50	1.2638
Daily SMA100	1.2657
Daily SMA200	1.2569

Levels
Previous Daily High	1.2468
Previous Daily Low	1.2367
Previous Weekly High	1.2499
Previous Weekly Low	1.2367
Previous Monthly High	1.2894
Previous Monthly Low	1.2575
Daily Fibonacci 38.2%	1.2406
Daily Fibonacci 61.8%	1.243
Daily Pivot Point S1	1.2337
Daily Pivot Point S2	1.2301
Daily Pivot Point S3	1.2236
Daily Pivot Point R1	1.2438
Daily Pivot Point R2	1.2504
Daily Pivot Point R3	1.254

Author

FXStreet Team

FXStreet

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