Pound Sterling Price News and Forecast GBP/USD: Investors eye Brexit headlines as next catalyst

FXStreet Team FXStreet

GBP/USD plummets down to 1.3420 post-US CPI figures, amid increasing Brexit tensions

The British pound reverses this week’s gains and some more, plummeting 160 pips during the day, down almost 1%, trading at 1.3426 at the time of writing. Since the beginning of the week, the GBP/USD pair trimmed last Friday’s losses, bouncing from 1.3400 to this week’s high (November 9) at 1.3606, amid the lack of a catalyst, mainly driven by US dollar weakness. Also, lower US bond yields dragged the greenback lower, ahead of the critical US CPI release. Read more...

GBP/USD

Overview
Today last price	1.3407
Today Daily Change	-0.0152
Today Daily Change %	-1.12
Today daily open	1.3559

Trends
Daily SMA20	1.369
Daily SMA50	1.3693
Daily SMA100	1.3754
Daily SMA200	1.3848

Levels
Previous Daily High	1.3607
Previous Daily Low	1.3524
Previous Weekly High	1.3698
Previous Weekly Low	1.3424
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3556
Daily Fibonacci 61.8%	1.3576
Daily Pivot Point S1	1.352
Daily Pivot Point S2	1.3481
Daily Pivot Point S3	1.3437
Daily Pivot Point R1	1.3603
Daily Pivot Point R2	1.3647
Daily Pivot Point R3	1.3686

GBP/USD: Five scenarios for trading UK Q3 growth figures + technical levels

Will the Bank of England raise rates in December? That is a critical question for the pound, and Gross Domestic Product figures for the third quarter could provide a signal. Economists expect an increase of 1.5% after a rapid expansion of 5.5% in the second quarter. Uncertainty is elevated. Read more...

GBP/USD Forecast: Investors eye Brexit headlines as next catalyst

GBP/USD remains at the mercy of the dollar's market valuation as heightened concerns over the UK triggering Article 16 don't allow the British pound to find demand. Following Monday's decisive rebound, GBP/USD failed to reclaim 1.3600 with the greenback holding its ground against its major rivals amid the negative shift witnessed in market sentiment. Reflecting the dollar's resilience, the US Dollar Index trades in the positive territory above 94.00 in the early European session on Wednesday. Read more...

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FXStreet Team

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