Pound Sterling Price News and Forecast: GBP/USD dips as markets eye BoE’s rate decision

FXStreet Team FXStreet

GBP/USD dips as markets eye BoE’s rate decision as a strong USD sets the tone

GBP/USD reverses its course late in the European session amidst a low-volume trading day in the FX space, with US markets closed due to a holiday. A risk-off impulse weighs on the Pound Sterling (GBP), which is set to outperform the greenback, as the Bank of England (BoE) is expected to deliver a rate hike on Thursday. The GBP/USD is trading at 1.2793, down a modest 0.19%. Read More...

Pound Sterling retreats ahead of key inflation data

The Pound Sterling (GBP) is correcting lower on Monday and trading at around 1.2800 after showing a big bullish performance last week, rallying to levels not seen since April 2022, near 1.2850. Investors are keeping an eye on the United Kingdom’s key inflation data, to be released on Wednesday at 6 GMT. The GBP/USD pair is showing a severe contraction in volatility to start the week, ahead of the release of key price indicators, which will provide guidance about the interest rate policy from the Bank of England (BoE). Read More...

GBP/USD: Focus now shifts to 1.2900 – UOB

In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, extra gains could lift GBP/USD to the 1.2900 region in the next few weeks. Read More...

GBP/USD

Overview
Today last price	1.2778
Today Daily Change	-0.0044
Today Daily Change %	-0.34
Today daily open	1.2822

Trends
Daily SMA20	1.2495
Daily SMA50	1.2492
Daily SMA100	1.2324
Daily SMA200	1.2045

Levels
Previous Daily High	1.2848
Previous Daily Low	1.2768
Previous Weekly High	1.2848
Previous Weekly Low	1.2487
Previous Monthly High	1.268
Previous Monthly Low	1.2308
Daily Fibonacci 38.2%	1.2818
Daily Fibonacci 61.8%	1.2799
Daily Pivot Point S1	1.2777
Daily Pivot Point S2	1.2733
Daily Pivot Point S3	1.2697
Daily Pivot Point R1	1.2857
Daily Pivot Point R2	1.2893
Daily Pivot Point R3	1.2937

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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