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

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

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