Pound Sterling Price News and Forecast: GBP/USD prints fresh highs on BoE expectations

FXStreet Team FXStreet

GBP/USD prints fresh highs on BoE expectations

At 1.3490, GBP/USD is trading near to the highs of the day that came in just shy of 1.3495. The pair has moved from a low of 1.3396 and climbed to a one-week high after data showed UK inflation surged to a 10-year high last month. The pound is firmer across the board due to the expectations of an interest rate hike as early as next month following a week, so far, of better than expected data. On Tuesday, for instance, UK data showed Britain's job market withstood the end of the government's furlough scheme. Read more...

GBP/USD

Overview
Today last price	1.3492
Today Daily Change	0.0070
Today Daily Change %	0.52
Today daily open	1.3422

Trends
Daily SMA20	1.3611
Daily SMA50	1.3651
Daily SMA100	1.3729
Daily SMA200	1.384

Levels
Previous Daily High	1.3473
Previous Daily Low	1.3405
Previous Weekly High	1.3607
Previous Weekly Low	1.3353
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3447
Daily Fibonacci 61.8%	1.3431
Daily Pivot Point S1	1.3394
Daily Pivot Point S2	1.3366
Daily Pivot Point S3	1.3327
Daily Pivot Point R1	1.3462
Daily Pivot Point R2	1.3501
Daily Pivot Point R3	1.3529

GBP/USD Forecast: Bulls eye Brexit headlines after hot UK inflation data

GBP/USD has edged higher in the early European session on Wednesday with the latest data from the UK revealing that inflation was stronger than expected in October. The pair seems to be struggling to push higher, however, suggesting that investors are focused on Brexit headlines rather than the market pricing of a strong probability of a Bank of England (BoE) rate hike in December. Read more...

GBP/USD analysis: Encounters SM

The GBP/USD currency exchange rate reached and pierced the resistance of the 200-hour simple moving average at mid-day on Wednesday. Previously, during the morning hours of the day, the rate declined and shortly traded below the support of the 100-hour SMA. Meanwhile, analysts spotted a channel-up pattern on the rate's hourly candle chart. Read more...

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FXStreet Team

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