Pound Sterling Price News and Forecast: GBP/USD dips amidst escalating Middle East conflict

FXStreet Team FXStreet

GBP/USD dips amidst escalating Middle East conflict, volatile market conditions

GBP/USD registers minimal losses of 0.12% after hitting a daily high of 1.2163 on risk appetite, but news headlines showing an escalation of the Middle East conflict weighed on the major. Therefore, the pair reversed its course trades at 1.2112, as sellers eye a test of 1.2100. Read More...

Pound Sterling extends upside as soft US core PCE report cheers market mood

The Pound Sterling (GBP) recovers sharply against the US Dollar as market sentiment improves after a steady US core Personal Consumption Expenditure (PCE) price index report for September. The near-term outlook of the GBP/USD pair remained weak as the United Kingdom economy is facing the wrath of higher interest rates by the Bank of England (BoE) amid stubborn consumer inflation. Read More...

GBP/USD: A test of 1.2040 appears in the pipeline – UOB

Further downside in GBP/USD could revisit the 1.2040 zone in the short-term horizon, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

GBP/USD

Overview
Today last price	1.2112
Today Daily Change	-0.0017
Today Daily Change %	-0.14
Today daily open	1.2129

Trends
Daily SMA20	1.2179
Daily SMA50	1.2364
Daily SMA100	1.2575
Daily SMA200	1.2441

Levels
Previous Daily High	1.214
Previous Daily Low	1.207
Previous Weekly High	1.222
Previous Weekly Low	1.209
Previous Monthly High	1.2713
Previous Monthly Low	1.2111
Daily Fibonacci 38.2%	1.2113
Daily Fibonacci 61.8%	1.2097
Daily Pivot Point S1	1.2086
Daily Pivot Point S2	1.2043
Daily Pivot Point S3	1.2016
Daily Pivot Point R1	1.2156
Daily Pivot Point R2	1.2183
Daily Pivot Point R3	1.2226

Author

FXStreet Team

FXStreet

EUR/USD seems fragile below 1.1700 as Middle East war boosts energy prices

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GBP/USD hovers around 1.3400 with bearish pressure intact

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Stellar risks deeper losses as derivatives metrics turn negative

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The market is not panicking it is repricing the probability distribution of Oil and time

At the end of the day, markets do not trade morality or geopolitics. They trade transmission channels. And the only channel that truly matters in this maelstrom runs through the price of energy and the time value of money.

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