Pound Sterling Price News and Forecast: GBP/USD tumbles to the 1.2700 psychological support
|GBP/USD Price Analysis: Dives to near 1.2700 psychological support followed by 14-day EMA
GBP/USD halts its three-day winning streak, trading around 1.2700 psychological level during the Asian session on Monday. The GBP/USD pair seems to face a critical juncture, with the possibility of a break below the psychological level. If this occurs, it could surpass the 14-day Exponential Moving Average (EMA) at 1.2692.
A breach below this support region might exert downward pressure on the GBP/USD pair, potentially leading it to navigate toward the major support at 1.2650. This level aligns with the 23.6% Fibonacci retracement at 1.2643, serving as a significant area to watch for potential price movements. Read more...
GBP/USD edges lower to near 1.2710 after recent gains on improved risk appetite
GBP/USD halts its winning streak that began on Wednesday, trading around 1.2710 during the Asian session on Monday. However, the Pound Sterling (GBP) received upward support against the US Dollar (USD) on improved risk appetite after the mixed economic data from the United States (US).
The US Dollar Index (DXY) maintains a sideways movement near 102.40 with a negative bias, potentially influenced by the decline in the short-term yield on the 2-year US Treasury bond. The yield on the 2-year bond trades lower at 4.38%, by the press time. Read more...
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.