Pound Sterling Price News and Forecast: GBP/USD: Bears are waiting to pounce below 1.2800

FXStreet Team FXStreet

GBP/USD Price Analysis: Bears are waiting to pounce below 1.2800

GBP has been the market's darling this week so far as the initial balance extends higher and higher. However, as the following charts illustrate, there could be a turnaround on the cards soon. Read More...

Pound Sterling recovers as more interest rate hikes remain favored

The Pound Sterling (GBP) is looking for a break above the immediate resistance as the United Kingdom’s government looking beyond monetary tools to bring down stubborn inflation. The recovery in the GBP/USD pair has faded as the adaptation of new fiscal measures such as cutting wages of public sector employees by the British administration are losing their impact. The British government also asked companies to bring down profit margins to tame sticky inflation, which might help trim fears of a bleak economic outlook. Read More...

GBP/USD

Overview
Today last price	1.2752
Today Daily Change	0.0039
Today Daily Change %	0.31
Today daily open	1.2713

Trends
Daily SMA20	1.2608
Daily SMA50	1.253
Daily SMA100	1.2355
Daily SMA200	1.2082

Levels
Previous Daily High	1.2749
Previous Daily Low	1.2688
Previous Weekly High	1.2845
Previous Weekly Low	1.2685
Previous Monthly High	1.268
Previous Monthly Low	1.2308
Daily Fibonacci 38.2%	1.2711
Daily Fibonacci 61.8%	1.2726
Daily Pivot Point S1	1.2684
Daily Pivot Point S2	1.2656
Daily Pivot Point S3	1.2624
Daily Pivot Point R1	1.2745
Daily Pivot Point R2	1.2777
Daily Pivot Point R3	1.2806

GBP/USD Price Analysis: Volatility contracts above 1.2700 despite cheerful market mood

The GBP/USD pair is trading back and forth in a narrow range of 1.2700-1.2750 in the early London session. The upside in the Cable is restricted as higher inflationary pressures in the United Kingdom have dampened its economic outlook while the downside is supported due to correction in the US Dollar Index (DXY). Read More...

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