Pound Sterling Price News and Forecast: GBP/USD growth concerns will temper Pound gains

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling fails to benefit from hot inflation data

Following a spike above 1.2800 with the knee-jerk reaction to UK May inflation data, GBP/USD reversed its direction and declined toward 1.2700 during the European trading hours on Wednesday. The pair's technical outlook highlights a bearish shift in the short-term outlook as investors gear up for FOMC Chairman Jerome Powell's two-day congressional testimony. Read more...

GBP/USD: Growth concerns will temper Pound gains – MUFG

We have just had the release of the May CPI report in the UK and once again it is a bad report. Economists at MUFG Bank analyze the implication of the latest inflation data ahead of the Bank of England (BoE) meeting tomorrow. Read more...

GBP/USD to see further strength toward resistance at 1.3000 – Credit Suisse

With near-term and medium-term momentum positive, we look for strength to extend to the March/April 2022 lows at 1.2973/1.3000. Whilst we expect a better cap here initially, directly above would open the door for further gains towards 1.3091. Read more...

GBP/USD

Overview
Today last price	1.2719
Today Daily Change	-0.0046
Today Daily Change %	-0.36
Today daily open	1.2765

Trends
Daily SMA20	1.253
Daily SMA50	1.2507
Daily SMA100	1.2333
Daily SMA200	1.2057

Levels
Previous Daily High	1.2807
Previous Daily Low	1.2714
Previous Weekly High	1.2848
Previous Weekly Low	1.2487
Previous Monthly High	1.268
Previous Monthly Low	1.2308
Daily Fibonacci 38.2%	1.2749
Daily Fibonacci 61.8%	1.2771
Daily Pivot Point S1	1.2717
Daily Pivot Point S2	1.2669
Daily Pivot Point S3	1.2624
Daily Pivot Point R1	1.281
Daily Pivot Point R2	1.2855
Daily Pivot Point R3	1.2903

Author

FXStreet Team

FXStreet

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