Pound Sterling Price News and Forecast: GBP/USD drops below 1.2400

FXStreet Team FXStreet

GBP/USD drops below 1.2400, defying speculations of imminent BoE rate hike next week

The Pound Sterling (GBP) continues to weaken against the US Dollar (USD) for the second consecutive day after a tranche of positive US economic data bolstered the Greenback. Hence, the GBP/USD is set to finish the week with losses, exchanging hands at 1.2397, below its 200-day Moving Average (DMA). Read More...

Pound Sterling recovery falters as recession risks deepen

The Pound Sterling (GBP) recovery fades due to the upside risks of the global economic slowdown. The asset retreats as the broader trend is bearish due to bleak economic fundamentals. The GBP/USD pair could resume the downside journey as the tight interest rate policy by the Bank of England (BoE) has dampened the labor demand outlook and has exposed the economy to a possible recession. Read More...

GBP/USD: Risk extra retracements in the near term – UOB

UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest there is still room for further weakness in GBP/USD in the next few weeks. Read More...

GBP/USD

Overview
Today last price	1.2385
Today Daily Change	-0.0024
Today Daily Change %	-0.19
Today daily open	1.2409

Trends
Daily SMA20	1.2595
Daily SMA50	1.2742
Daily SMA100	1.2655
Daily SMA200	1.2432

Levels
Previous Daily High	1.2506
Previous Daily Low	1.2397
Previous Weekly High	1.2643
Previous Weekly Low	1.2446
Previous Monthly High	1.2841
Previous Monthly Low	1.2548
Daily Fibonacci 38.2%	1.2438
Daily Fibonacci 61.8%	1.2464
Daily Pivot Point S1	1.2368
Daily Pivot Point S2	1.2328
Daily Pivot Point S3	1.2259
Daily Pivot Point R1	1.2478
Daily Pivot Point R2	1.2547
Daily Pivot Point R3	1.2587

Author

FXStreet Team

FXStreet

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