Pound Sterling Price News and Forecast: GBP/USD struggles despite UK´s economy dodging a recession


GBP/USD struggles despite UK´s economy dodging a recession, post-Powell’s hawkish tone

GBP/USD failed to gain traction on Friday, extended its losses to five consecutive days, is down 0.16% or 20 pips from its opening price after hitting a daily high of 1.2237. At the time of writing, the pair exchanges hands at 1.2205. Read More...
 

Pound Sterling remains on backfoot amid multiple headwinds

The Pound Sterling (GBP) is expected to continue its losing streak for the fifth trading session as the market participants anticipate a sharp slowdown in the United Kingdom economy. The British economy managed to avoid de-growth in the third quarter of 2023 but remained stagnant as firms were reluctant to hire job-seekers on a permanent basis and plans for capacity expansion were scrapped due to poor demand outlook. Higher interest rates by the Bank of England (BoE) and stubborn price pressure have squeezed the budgets of households. UK Chancellor Jeremy Hunt said, after the release of the Q3 GDP, that high inflation is the single greatest barrier to economic growth. Read More...

GBP/USD faces further consolidation near term – UOB

In the view of UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia, GBP/USD is seen navigating within the 1.2180-1.2400 range in the short-term horizon. Read More...

GBP/USD

Overview
Today last price 1.2216
Today Daily Change -0.0002
Today Daily Change % -0.02
Today daily open 1.2218
 
Trends
Daily SMA20 1.2198
Daily SMA50 1.2275
Daily SMA100 1.2527
Daily SMA200 1.2434
 
Levels
Previous Daily High 1.2309
Previous Daily Low 1.2213
Previous Weekly High 1.239
Previous Weekly Low 1.209
Previous Monthly High 1.2337
Previous Monthly Low 1.2037
Daily Fibonacci 38.2% 1.2249
Daily Fibonacci 61.8% 1.2272
Daily Pivot Point S1 1.2185
Daily Pivot Point S2 1.2151
Daily Pivot Point S3 1.2089
Daily Pivot Point R1 1.228
Daily Pivot Point R2 1.2342
Daily Pivot Point R3 1.2376

 

 

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