GBP/USD off 2-1/2 year lows, still in the red post-BoE

  • The British Pound gets a minor lift in absence of any dovish signals by the BoE.
  • Persistent fears of a no-deal Brexit should keep a lid on any meaningful bounce.

The GBP/USD pair held on to its weaker tone post-BoE, albeit has managed to recover around 15-20 pips from an early dip to sub-1.2100 level. 

The pair added to its recent losses and remained under some selling pressure through the mid-European session on Thursday - marking its fifth day of slide in the previous six, amid persistent fears of a no-deal Brexit. This coupled with the post-FOMC US Dollar upsurge to two-year tops further collaborated to the pair's offered tone and an intraday dip to the lowest since January 2017.

Against the backdrop, the British Pound remained depressed after the Bank of England, at its latest monetary policy meeting held this Thursday, decided to maintain status-quo. Meanwhile, the accompanying Quarterly Inflation Report (QIR) did not include a no-deal Brexit possibility and hence, failed to provide any meaningful impetus.

Hence, the key focus remains on the post-meeting press conference, where comments by the BoE Governor Mark Carney will be closely scrutinized for any dovish shift, which might be enough to trigger a fresh leg of a bearish slide for the major.

Technical levels to watch


Today last price 1.2104
Today Daily Change -0.0056
Today Daily Change % -0.46
Today daily open 1.216
Daily SMA20 1.2443
Daily SMA50 1.2575
Daily SMA100 1.2804
Daily SMA200 1.2847
Previous Daily High 1.225
Previous Daily Low 1.2134
Previous Weekly High 1.2522
Previous Weekly Low 1.2376
Previous Monthly High 1.2706
Previous Monthly Low 1.2119
Daily Fibonacci 38.2% 1.2206
Daily Fibonacci 61.8% 1.2179
Daily Pivot Point S1 1.2113
Daily Pivot Point S2 1.2065
Daily Pivot Point S3 1.1996
Daily Pivot Point R1 1.2229
Daily Pivot Point R2 1.2298
Daily Pivot Point R3 1.2346



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD drops below 1.1300 for the first time in two weeks

EUR/USD remains under bearish pressure in the American session on Monday and trades at its lowest level in two weeks slightly below 1.1300. US Markit Manufacturing and Services PMIs missed market expectations by a wide margin in early January. The S&P 500 Index is down nearly 2% after the opening bell.


GBP/USD extends daily slide toward 1.3450

GBP/USD continues to stretch lower toward mid-1.3400s on Monday as the mood continues to sour. Wall Street's main indexes are down between 1.7% and 2.1% after the disappointing PMI data from the US.


Gold declines toward $1,830 despite falling US bond yields

Gold climbed above $1,840 during the European trading hours but erased its daily gains to turn flat on the day at around $1,830. The benchmark 10-year US T-bond yield is down more than 2% on Monday as safe-haven flows continue to dominate the financial markets. 

Gold News

Crypto carnage continues to unfold

Bitcoin price has witnessed a massive crash over the past week, undoing the gains seen since July 25. Ethereum, Ripple and other altcoins have followed suit, experiencing an even worse crash. 

Read more

Nvidia extends losses after Bitcoin’s overnight flash crash

NVDA investors are getting used to seeing the colour red after a year in 2021 when all they saw was green. On Friday, shares of NVDA fell by 3.21% and closed the final trading day of the week at $223.74.

Read more