Pound Sterling weakens as BoE turns slightly dovish on interest rates

FXStreet Team FXStreet

Pound Sterling weakens as BoE turns slightly dovish on interest rates

The Pound Sterling (GBP) remains vulnerable against the US Dollar in Friday’s early New York session as the market sentiment is quite bearish. The GBP/USD pair fails to find support as increasing expectations that the Bank of England (BoE) will cut interest rates this year outweigh February Retail Sales data, which broadly beat market expectations. Read More...

UK Retail Sales arrived at 0% MoM in February vs. -0.3% expected

The UK Retail Sales showed no growth over the month in February vs. -0.3% expected and 3.6% registered in January, according to the latest data published by the Office for National Statistics (ONS) on Friday. Read More...

GBP/USD remains under selling pressure above the mid-1.2700s, UK Retail Sales data eyed

The GBP/USD pair faces rejection near the 1.2700 mark and holds above the mid-1.2700s during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar (USD) and the dovish tilt of the Bank of England (BoE). Investors await the UK Retail Sales for fresh impetus, which is expected to fall 0.3% in February. GBP/USD currently trades near 1.2658, down 0.02% on the day. Read More...

GBP/USD

Overview
Today last price	1.2589
Today Daily Change	-0.0072
Today Daily Change %	-0.57
Today daily open	1.2661

Trends
Daily SMA20	1.2728
Daily SMA50	1.2685
Daily SMA100	1.2637
Daily SMA200	1.2594

Levels
Previous Daily High	1.2804
Previous Daily Low	1.2651
Previous Weekly High	1.2865
Previous Weekly Low	1.2725
Previous Monthly High	1.2773
Previous Monthly Low	1.2518
Daily Fibonacci 38.2%	1.2709
Daily Fibonacci 61.8%	1.2745
Daily Pivot Point S1	1.2607
Daily Pivot Point S2	1.2552
Daily Pivot Point S3	1.2454
Daily Pivot Point R1	1.276
Daily Pivot Point R2	1.2858
Daily Pivot Point R3	1.2913

Author

FXStreet Team

FXStreet

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