Pound Sterling Price News and Forecast: GBP/USD booked second straight weekly loss despite the rebound


GBP/USD steadies above 1.2200, focus shifts to UK Inflation and US PMI

The GBP/USD pair is oscillating in a narrow range of 1.2205-1.2233 in the early Asian session after a minor rebound from a low of 1.2173, recorded on Friday. The pair is displaying a balanced market profile and is expected to turn imbalance as higher expectations of Consumer Price Index (CPI) figures by the UK economy will spurt the recession fears and will weaken the cable further.

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GBP/USD

Overview
Today last price 1.2219
Today Daily Change -0.0023
Today Daily Change % -0.19
Today daily open 1.2242
 
Trends
Daily SMA20 1.2455
Daily SMA50 1.2561
Daily SMA100 1.2935
Daily SMA200 1.323
 
Levels
Previous Daily High 1.2365
Previous Daily Low 1.2173
Previous Weekly High 1.2407
Previous Weekly Low 1.1934
Previous Monthly High 1.2667
Previous Monthly Low 1.2155
Daily Fibonacci 38.2% 1.2246
Daily Fibonacci 61.8% 1.2292
Daily Pivot Point S1 1.2155
Daily Pivot Point S2 1.2068
Daily Pivot Point S3 1.1962
Daily Pivot Point R1 1.2347
Daily Pivot Point R2 1.2452
Daily Pivot Point R3 1.254

 

GBP/USD Weekly Forecast: Recovery at risk, with UK inflation, Powell ahead

Another weekly decline showed that there was little reprieve for GBP bulls. The GBP/USD recovery from two-year lows of 1.1933 faltered amid the Fed-BOE monetary policy divergence and dire UK economic outlook. Attention now turns tothe critical UK inflation report and Fed Chair Jerome Powell’s testimony in the week ahead for fresh trading impulse for cable traders.

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