Pound Sterling Price News and Forecast: GBP/USD defends the 100-day SMA, further downside still on the horizon

FXStreet Team FXStreet

GBP/USD defends the 100-day SMA, further downside still on the horizon

The GBP/USD lost ground but managed to clear losses after finding support at a daily low of 1.2615, near the 100-day Simple Moving Average (SMA) and then settling above 1.2700. Weak economic activity from the US and the UK were the main reasons for the USD and GBP trading weak agains most of their rivals in Wednesday's session. Read More...

Pound Sterling recovers as investors' risk appetite improves

The Pound Sterling (GBP) recovered due to an upbeat market mood while the broader bias remains bearish as S&P Global reported vulnerable preliminary PMI data for August. Earlier, the GBP/USD pair dropped vertically as the UK Manufacturing PMI dropped significantly to 42.5 from estimates of 45.0 and the prior release of 45.3. This has been the lowest factory data figure since the pandemic period, which demonstrates the consequences of higher interest rates by the Bank of England (BoE). Additionally, Services PMI shifted into the contraction phase below the 50.0 threshold. The economic data landed at 48.7, lower than estimates of 50.8 and July’s reading of 51.3. Read More...

GBP/USD faces extra consolidation near term – UOB

Further side-lined trading appears likely in GBP/USD in the near term, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Read More...

GBP/USD

Overview
Today last price	1.2723
Today Daily Change	-0.0009
Today Daily Change %	-0.07
Today daily open	1.2732

Trends
Daily SMA20	1.2754
Daily SMA50	1.2795
Daily SMA100	1.2634
Daily SMA200	1.2388

Levels
Previous Daily High	1.28
Previous Daily Low	1.2718
Previous Weekly High	1.2788
Previous Weekly Low	1.2617
Previous Monthly High	1.3142
Previous Monthly Low	1.2659
Daily Fibonacci 38.2%	1.275
Daily Fibonacci 61.8%	1.2769
Daily Pivot Point S1	1.27
Daily Pivot Point S2	1.2668
Daily Pivot Point S3	1.2618
Daily Pivot Point R1	1.2782
Daily Pivot Point R2	1.2832
Daily Pivot Point R3	1.2864

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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