Pound Sterling Price News and Forecast: GBP/USD licks its wounds at the lowest levels in 29 months

FXStreet Team FXStreet

GBP/USD flirts with 1.1550 at two-year low amid pre-NFP anxiety, UK recession woes

GBP/USD remains sidelined around 1.1540-50 during Friday’s Asian session, after refreshing the two-year low the previous day. In doing so, the Cable pair portrays the typical pre-NFP moves despite looming fears of the UK’s recession. “The UK is already in the midst of a recession, and inflation is on course to hit 14% later this year,” as per the British Chambers of Commerce (BCC) reports shared by Bloomberg.

GBP/USD

Overview
Today last price	1.1555
Today Daily Change	0.0010
Today Daily Change %	0.09
Today daily open	1.1545

Trends
Daily SMA20	1.1912
Daily SMA50	1.1999
Daily SMA100	1.2248
Daily SMA200	1.28

Levels
Previous Daily High	1.1629
Previous Daily Low	1.1499
Previous Weekly High	1.19
Previous Weekly Low	1.1717
Previous Monthly High	1.2294
Previous Monthly Low	1.1599
Daily Fibonacci 38.2%	1.1549
Daily Fibonacci 61.8%	1.1579
Daily Pivot Point S1	1.1486
Daily Pivot Point S2	1.1427
Daily Pivot Point S3	1.1356
Daily Pivot Point R1	1.1616
Daily Pivot Point R2	1.1688
Daily Pivot Point R3	1.1747

Currency market FX next week: GBP/USD in focus

GBP/USD in 2019 was the first time to identify such a treacherous phenomenon when GBP/USD dropped every week for 6 solid weeks from 1.2900's to 1.1900's. No warning exists to such a situation. The revelation must come quickly or losses are suffered. Explains why GBP currencies are separated from overall trade rankings. The idea is if it transpired once then it may develop again.

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