Pound Sterling Price News and Forecast: GBP/USD closing in on 2-year low
|GBP/USD Price Analysis: A slippage below 61.8% Fibo retracement unleashes cable for new lows
The GBP/USD pair has refreshed its two-year low after hitting a low of 1.2107 in the late New York session. The pound bulls have displayed a sheer downside move after violating its prolonged consolidation formed in a 1.2430-1.2600 range from the first day of June.
Pound closing in on 2-year low
The British pound is down sharply at the start of the week, as US inflation and weak UK numbers are weighing on the pound. In the European session, GBP/USD is trading at 1.2174 down 1.16% on the day. The pound is perilously close to a 2-year low of 1.2155.
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