Pound Sterling Price News and Forecast: Pound Sterling plunges as consequences of higher interest rates widen


Pound Sterling plunges as consequences of higher interest rates widen

The Pound Sterling (GBP) faces an intense sell-off due to the widening consequences of a historically aggressive rate-tightening cycle by the Bank of England (BoE). The GBP/USD prints a fresh 11-week low amid bearish market sentiment and rising risks of a recession in the UK economy. In the battle against stubborn inflation, the BoE has raised interest rates to 5.25%, the consequences of which are impacting UK corporations, forcing some to report insolvency due to their inability to cover interest obligations. Read More...
 

GBP/USD could slip back below 1.2500 – UOB

GBP/USD risks a deeper pullback in the next few weeks, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Read More...
 

UK's Ofgem reduces price cap, household energy bills to hit GBP1,923

On Friday, the British energy regulator, Ofgem, said it would lower its price cap on household energy bills from October to an annual level of GBP1,923 (USD2,418) for a typical dual-fuel household, compared with July’s price reduction to GBP2,074 ($2,617.60). Read More...
 

GBP/USD

Overview
Today last price 1.2595
Today Daily Change -0.0006
Today Daily Change % -0.05
Today daily open 1.2601
 
Trends
Daily SMA20 1.2734
Daily SMA50 1.2793
Daily SMA100 1.2638
Daily SMA200 1.2396
 
Levels
Previous Daily High 1.2729
Previous Daily Low 1.2592
Previous Weekly High 1.2788
Previous Weekly Low 1.2617
Previous Monthly High 1.3142
Previous Monthly Low 1.2659
Daily Fibonacci 38.2% 1.2644
Daily Fibonacci 61.8% 1.2676
Daily Pivot Point S1 1.2552
Daily Pivot Point S2 1.2503
Daily Pivot Point S3 1.2415
Daily Pivot Point R1 1.2689
Daily Pivot Point R2 1.2778
Daily Pivot Point R3 1.2827

 

 

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