Pound Sterling Price News and Forecast: Could GBP/USD drop towards the 1.22 level?

FXStreet Team FXStreet

GBP/USD outlook: Cable keeps positive tone above 200DMA but weekly doji warns

Cable remains constructive and extends bounce from 200DMA on Friday, retracing over 61.8% of a shallow pullback from 1.2344 to 1.2106 so far.

Bulls are underpinned by 10/200DMA golden-cross and strong positive momentum on daily chart, eyeing a multi-month high at 1.2344 (Dec 5), break of which would signal continuation larger uptrend from 1.0348 (2022 low, posted on Sep 26). Read more...

Could GBP/USD drop towards the 1.22 level?

Looking at GBPUSD’s chart, we can see that the FX pair is being traded close to its resistance level at around $1.2265. If it is able to break through the level of $1.2270 today, then we could expect it to rise further towards its next resistance level at around $1.23-1.2320.

If it is not able to pass the level of $1.2270, then we could expect it to drop towards its support level at around $1.2180-1.22. Read more...

GBP/USD clings to gains above mid-1.2200s amid broad-based USD weakness

The GBP/USD pair gains traction for the third successive day on Friday and sticks to the positive bias through the mid-European session. The pair is currently placed comfortably above the mid-1.2200s and remains well within the striking distance of its highest level since June 17 touched earlier this week.

A combination of factors keeps the US Dollar bulls on the defensive, which, in turn, is seen lending some support to the GBP/USD pair. The optimism over the easing of strict COVID-19 restrictions in China remains supportive of a generally positive tone around the equity markets. Furthermore, the uncertainty over the Fed’s rate-hike path is seen weighing on the safe-haven greenback. Read more...

GBP/USD

Overview
Today last price	1.2265
Today Daily Change	0.0026
Today Daily Change %	0.21
Today daily open	1.2239

Trends
Daily SMA20	1.2018
Daily SMA50	1.161
Daily SMA100	1.1664
Daily SMA200	1.2126

Levels
Previous Daily High	1.2247
Previous Daily Low	1.2155
Previous Weekly High	1.2311
Previous Weekly Low	1.19
Previous Monthly High	1.2154
Previous Monthly Low	1.1147
Daily Fibonacci 38.2%	1.2212
Daily Fibonacci 61.8%	1.219
Daily Pivot Point S1	1.218
Daily Pivot Point S2	1.2121
Daily Pivot Point S3	1.2088
Daily Pivot Point R1	1.2273
Daily Pivot Point R2	1.2306
Daily Pivot Point R3	1.2365

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD recovers to 1.1750 region as 2025 draws to a close

Following the bearish action seen in the European session on Wednesday, EUR/USD regains its traction and recovery to the 1.1750 region. Nevertheless, the pair's volatility remains low as trading conditions thin out on the last day of the year.

GBP/USD stays weak near 1.3450 on modest USD recovery

GBP/USD remains under modest beairsh pressure and fluctuates at around 1.3450 on Wednesday. The US Dollar finds fresh demand due to the end-of-the-year position adjustments, weighing on the pair amid the pre-New Year trading lull.

Gold retreats to $4,300 area, looks to post monthly gains

Gold stays on the back foot on the last day of 2025 and trades near $4,300, possibly pressured by profit-taking and position adjustments. Nevertheless, XAU/USD remains on track to post gains for December and extend its winning streak into a fifth consecutive month.

Bitcoin, Ethereum and XRP prepare for a potential New Year rebound

Bitcoin, Ethereum, and Ripple are holding steady on Wednesday after recording minor gains on the previous day. Technically, Bitcoin could extend gains within a triangle pattern while Ethereum and Ripple face critical overhead resistance.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).