Pound Sterling Price News and Forecast: GBP/USD stays on the back foot around multi-day low
|GBP/USD: Bears attack 1.3100 at 16-month low amid Russia-Ukraine stand-off
GBP/USD treads water around the lowest levels since November 2021, recently making rounds to 1.3100 during Tuesday’s Asian session. The cable pair slumped to the multi-day low amid broad US dollar strength as the market players rush to risk-safety amid escalating inflation fears due to the Ukraine-Russia tussles.
GBP/USD Forecast: Next bearish target aligns at 1.3120
GBP/USD has started the new week under strong bearish pressure with the greenback capitalizing on safe-haven flows. The pair was last seen testing the 1.3160 support and additional losses are likely in case this level turns into resistance.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.