Pound Sterling Price News and Forecast: GBP/USD faces downward pressure on weak UK data

FXStreet Team FXStreet

GBP/USD faces downward pressure on weak UK data, sentiment deterioration

GBP/USD prolonged its losses for two consecutive days after the pair reached a two-week high of 1.2288 but failed to crack the 1.2300 mark. Fundamental news and geopolitical risks weighed on the Pound Sterling (GBP). At the time of writing, the pair trades at 1.2116, down 0.35%. Read More...

Pound Sterling weakens as soft UK data backs BoE rate pause

The Pound Sterling (GBP) delivers a breakdown as expectations of a mild recession in the United Kingdom economy have escalated. The GBP/USD pair falls back as higher borrowing costs by the Bank of England (BoE), a poor demand outlook, and deepening geopolitical tensions weigh. Read More...

GBP/USD

Overview
Today last price	1.2116
Today Daily Change	-0.0044
Today Daily Change %	-0.36
Today daily open	1.216

Trends
Daily SMA20	1.2184
Daily SMA50	1.2389
Daily SMA100	1.2582
Daily SMA200	1.2443

Levels
Previous Daily High	1.2289
Previous Daily Low	1.2154
Previous Weekly High	1.222
Previous Weekly Low	1.209
Previous Monthly High	1.2713
Previous Monthly Low	1.2111
Daily Fibonacci 38.2%	1.2205
Daily Fibonacci 61.8%	1.2237
Daily Pivot Point S1	1.2113
Daily Pivot Point S2	1.2065
Daily Pivot Point S3	1.1977
Daily Pivot Point R1	1.2248
Daily Pivot Point R2	1.2336
Daily Pivot Point R3	1.2384

GBP/USD Price Analysis: Stalls its decline, the key upside barrier is seen at 1.2200

The GBP/USD pair stalls its decline and holds below the 1.2200 mark during the Asian session on Wednesday. A decline of the US Dollar (USD) and a retreat in US Treasury bond yields lend some support to the pair. However, the renewed safe-haven flows amid the geopolitical conflicts in the Middle East and the higher-for-longer rate narrative in the US might cap the USD’s downside for the time being. The pair is adding 0.08% on the day to trade at 1.2170 at press time. Read More...

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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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