Pound Sterling Price News and Forecast: GBP/USD drops for three straight days

FXStreet Team FXStreet

GBP/USD drops for three straight days, despite BoE’s Bailey efforts to rescue Sterling

GBP/USD prolongs its agony, extending its losses to three consecutive days, and falls to a weekly low of 1.2241 as market sentiment shifted sour, as portrayed by Wall Street posting losses. At the time of writing, the major is trading at 1.2287, down 0.10%. Read More...

Pound Sterling falls sharply on dismal mood, UK Q3 GDP eyed

The Pound Sterling (GBP) is declining gradually as investors have turned cautious ahead of the United Kingdom's Q3 Gross Domestic Product (GDP) data and Federal Reserve (Fed) Chair Jerome Powell’s remarks on the interest rate outlook. Economists have forecasted a nominal contraction in the UK’s growth rate as firms underutilized their entire capacity due to weak spending from households. Read More...

GBP/USD could still revisit 1.2430 – UOB

There is still scope for GBP/USD to advance past the 1.2400 yardstick, according to UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia. Read More...

GBP/USD

Overview
Today last price	1.2293
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	1.2293

Trends
Daily SMA20	1.2197
Daily SMA50	1.2293
Daily SMA100	1.2537
Daily SMA200	1.2435

Levels
Previous Daily High	1.2351
Previous Daily Low	1.2263
Previous Weekly High	1.239
Previous Weekly Low	1.209
Previous Monthly High	1.2337
Previous Monthly Low	1.2037
Daily Fibonacci 38.2%	1.2296
Daily Fibonacci 61.8%	1.2317
Daily Pivot Point S1	1.2253
Daily Pivot Point S2	1.2214
Daily Pivot Point S3	1.2165
Daily Pivot Point R1	1.2342
Daily Pivot Point R2	1.2391
Daily Pivot Point R3	1.243

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.

AUD/USD bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.