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.

Read More ...

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.

Read More ...

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 Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD: Upside remains capped below 0.6850 on dismal China's Services PMI

AUD/USD: Upside remains capped below 0.6850 on dismal China's Services PMI

AUD/USD has stalled its upside below 0.6850 after the Chinese Caixin Services PMI disappointed with 46.7 in November. US Dollar weakness and China's reopening-led better risk tone help the Aussie stay afloat ahead of the US ISM Services PMI. 

AUDUSD News

EUR/USD refreshes five-month high above 1.0550 on solid risk-on profile

EUR/USD refreshes five-month high above 1.0550 on solid risk-on profile

The EUR/USD pair has refreshed its five-month high at 1.0549 in the Asian session. The major currency pair has witnessed a juggernaut rally after a responsive buying action below 1.0440 on Friday. The US Dollar has witnessed immense pressure amid the risk appetite theme.

EUR/USD News

Gold struggles around $1,800 ahead of ISM Services PMI data

Gold struggles around $1,800 ahead of ISM Services PMI data

Gold price is facing immense pressure in conquering the round-level resistance of $1,800.00 in the early Tokyo session. The precious metal is highly expected to display more gains ahead and may extend towards a fresh three-month high at $1,824.63.

Gold News

Assessing the chances of Bitcoin price revisiting $20,000 before 2022 ends

Assessing the chances of Bitcoin price revisiting $20,000 before 2022 ends

Bitcoin price shows a tight consolidation in the four-hour timeframe, indicative of a volatile move. The most plausible outcome of this range tightening would be a minor correction to rebalance the imbalance present to the downside.

Read more

The Yen, Payrolls, and the Oil price

The Yen, Payrolls, and the Oil price

US stocks wrapped their second straight week of gains, even if stocks slipped on Friday on the back of better-than-expected US Payrolls data.We have been amazed by the resilience in risky assets of late. This year has seen some incredible macro themes.

Read more

Forex MAJORS

Cryptocurrencies

Signatures