Pound Sterling Price News and Forecast: GBP/USD extended its losses below 1.2650

FXStreet Team FXStreet

GBP/USD tumbles below 1.2700 as Fed officials push back against rate cuts

The GBP/USD extended its losses for the second straight day, spurred by the rise in US Treasury bond yields, while the Greenback (USD) trimmed some of its earlier losses on the day. The major is trading at 1.2641, down 0.31%.

In the last week, the US Federal Reserve (Fed) and the Bank of England (BoE) held their latest interest rate decisions, with both central banks maintaining the reference rates unchanged but striking the financial markets with different messages. The Fed Chairman Jerome Powell delivered a dovish message, sponsoring the GBP/USD rally from around 1.2500 to 1.2793. Read more...

GBP/USD remains limited below 1.2700 ahead of UK CPI data

The Sterling is drifting lower on Monday, with upside attempts capped below 1.2700, following rejection at 1.2790 last Friday, as hawkish Fed officials came to the US Dollar´s rescue.

Fed Williams surprised the market, downplaying hopes of fed cuts in March. Shortly afterwards, he was backed by Atlanta Fed President, Raphael Bostic, observing that he does not expect any monetary easing before the third quarter of 2024. Read more...

GBP/USD should find support on dips to the 1.2600/1.2620 area – Scotiabank

GBP/USD drifts after solid gains last week. Economists at Scotiabank analyze the pair’s outlook. Read more...

GBP/USD

Overview
Today last price	1.2636
Today Daily Change	-0.0038
Today Daily Change %	-0.30
Today daily open	1.2674

Trends
Daily SMA20	1.2608
Daily SMA50	1.2388
Daily SMA100	1.2452
Daily SMA200	1.2503

Levels
Previous Daily High	1.2791
Previous Daily Low	1.2669
Previous Weekly High	1.2794
Previous Weekly Low	1.2501
Previous Monthly High	1.2733
Previous Monthly Low	1.2096
Daily Fibonacci 38.2%	1.2715
Daily Fibonacci 61.8%	1.2744
Daily Pivot Point S1	1.2631
Daily Pivot Point S2	1.2589
Daily Pivot Point S3	1.2509
Daily Pivot Point R1	1.2753
Daily Pivot Point R2	1.2833
Daily Pivot Point R3	1.2876

Author

FXStreet Team

FXStreet

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