Pound Sterling Price News and Forecast: GBP/USD consolidates but prospects of bullish extension loom

FXStreet Team FXStreet

GBP/USD consolidates but prospects of bullish extension loom

GBP/USD rallied early on Tuesday after data showed British wages rose faster than expected in the last three months of 2022. The data raised the prospects of a more hawkish Bank of England as the inflation battle consumes sentiment in markets. In that regard, the US Consumer Price Index was the next key event for the pair with the data underpinning the outlook for further rate hikes from the Federal Reserve. Read More...

GBP/USD stays firm at around 1.2160s post US CPI

The GBP/USD dropped sharply in the North American session following the release of inflation data in the United States, which, although increased, initially sent the GBP/USD spiking towards its daily high at 1.2269 before reversing its course to the 1.2130 area. However, a late bounce sparked a recovery in the GBP/USD, trading at 1.2166, above its opening price. Read More...

GBP/USD breaks through 50-day SMA hurdle, peaks at 1.2270 post US CPI

The GBP/USD pair spikes to a peak of 1.2270 before retracing dramatically to the upper 1.21s following the much-anticipated release of US CPI data on Tuesday. Read More...

GBP/USD

Overview
Today last price	1.2174
Today Daily Change	0.0036
Today Daily Change %	0.30
Today daily open	1.2138

Trends
Daily SMA20	1.2254
Daily SMA50	1.2186
Daily SMA100	1.1859
Daily SMA200	1.1944

Levels
Previous Daily High	1.2152
Previous Daily Low	1.2031
Previous Weekly High	1.2194
Previous Weekly Low	1.1961
Previous Monthly High	1.2448
Previous Monthly Low	1.1841
Daily Fibonacci 38.2%	1.2106
Daily Fibonacci 61.8%	1.2077
Daily Pivot Point S1	1.2062
Daily Pivot Point S2	1.1986
Daily Pivot Point S3	1.1941
Daily Pivot Point R1	1.2183
Daily Pivot Point R2	1.2228
Daily Pivot Point R3	1.2304

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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