Pound Sterling Price News and Forecast: GBP/USD falls on US Dollar strength amid Fed rate hike speculations

FXStreet Team FXStreet

GBP/USD falls on US Dollar strength amid Fed rate hike speculations

GBP/USD dropped after forming a double top in recent price action during the last nine days and falls amidst speculations that the US Federal Reserve (Fed) would raise rates in May. That, alongside Fed Fund’s swaps, pushing the first rate cut by November of 2023, increased appetite for the greenback. Therefore, the GBP/USD is trading at 1.2355 after hitting a high of 1.2438. Read More...

GBP/USD remains on the defensive around 1.2400 mark amid modest USD strength

The GBP/USD pair kicks off the new week on a subdued note and seesaws between tepid gains/minor losses through the early part of the European session. The pair is currently placed around the 1.2400 mark, nearly unchanged for the day, and for now, seems to have stalled its retracement slide from the highest level since June 2022 touched on Friday. Read More...

GBP/USD faces a major support at 1.2275 – UOB

Further downside in GBP/USD is likely to face a tough contention around 1.2275 according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

GBP/USD

Overview
Today last price	1.2366
Today Daily Change	-0.0046
Today Daily Change %	-0.37
Today daily open	1.2412

Trends
Daily SMA20	1.237
Daily SMA50	1.2173
Daily SMA100	1.2182
Daily SMA200	1.1913

Levels
Previous Daily High	1.2546
Previous Daily Low	1.2399
Previous Weekly High	1.2546
Previous Weekly Low	1.2344
Previous Monthly High	1.2424
Previous Monthly Low	1.1803
Daily Fibonacci 38.2%	1.2455
Daily Fibonacci 61.8%	1.249
Daily Pivot Point S1	1.2359
Daily Pivot Point S2	1.2306
Daily Pivot Point S3	1.2212
Daily Pivot Point R1	1.2506
Daily Pivot Point R2	1.26
Daily Pivot Point R3	1.2653

Author

FXStreet Team

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