Pound Sterling Price News and Forecast: GBP/USD drops below 1.2400

FXStreet Team FXStreet

GBP/USD drops below 1.2400, defying speculations of imminent BoE rate hike next week

The Pound Sterling (GBP) continues to weaken against the US Dollar (USD) for the second consecutive day after a tranche of positive US economic data bolstered the Greenback. Hence, the GBP/USD is set to finish the week with losses, exchanging hands at 1.2397, below its 200-day Moving Average (DMA). Read More...

Pound Sterling recovery falters as recession risks deepen

The Pound Sterling (GBP) recovery fades due to the upside risks of the global economic slowdown. The asset retreats as the broader trend is bearish due to bleak economic fundamentals. The GBP/USD pair could resume the downside journey as the tight interest rate policy by the Bank of England (BoE) has dampened the labor demand outlook and has exposed the economy to a possible recession. Read More...

GBP/USD: Risk extra retracements in the near term – UOB

UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest there is still room for further weakness in GBP/USD in the next few weeks. Read More...

GBP/USD

Overview
Today last price	1.2385
Today Daily Change	-0.0024
Today Daily Change %	-0.19
Today daily open	1.2409

Trends
Daily SMA20	1.2595
Daily SMA50	1.2742
Daily SMA100	1.2655
Daily SMA200	1.2432

Levels
Previous Daily High	1.2506
Previous Daily Low	1.2397
Previous Weekly High	1.2643
Previous Weekly Low	1.2446
Previous Monthly High	1.2841
Previous Monthly Low	1.2548
Daily Fibonacci 38.2%	1.2438
Daily Fibonacci 61.8%	1.2464
Daily Pivot Point S1	1.2368
Daily Pivot Point S2	1.2328
Daily Pivot Point S3	1.2259
Daily Pivot Point R1	1.2478
Daily Pivot Point R2	1.2547
Daily Pivot Point R3	1.2587

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.

GBP/USD remains offered; bears target 1.3600

GBP/USD now leaves behind part of its recent recovery and revisits the low 1.3600s at the beginning of the week. Indeed, Cable trades with a mild downward bias amid decent gains in the Greenback as investors remain wary of upcoming US data releases and the Jackson Hole event.

EUR/USD slips back to 1.1660, daily lows

EUR/USD remains slightly offered and drops toward the 1.1660 zone to hit daily troughs on Monday. The pair’s decline follows a decent advance in the US Dollar while investors continue to closely follow developments from the US money market.

Gold poised to extend its bullish run

Gold surrenders part of its initial advance, although it keeps its bullish pace well and sound above the $4,600 mark per troy ounce on Monday. The precious metal’s move higher comes despite slight gains in the US Dollar and a modest pullback in US Treasury yields across the curve.

Here's what I learned trading meme coins

I’ve been trading cryptocurrencies for the past seven years, with meme coins becoming one of the most exciting and implacable parts of my experience. I love them because they represent internet culture and community sentiment, and, let’s be honest, extreme speculation. Newly launched meme coins were especially tempting: get in early enough, I thought, and a small bet could turn into a huge return.

Bessent’s presser in focus

Preview: Busy week ahead, with Bessent kicking this off today, with things wrapping up with Warsh at Jackson Hole. For a month that should have been a temporary period of ‘quiet’, we had anything but last week, with the bond market and tariffs front and centre.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.