Pound Sterling Price News and Forecast: GBP/USD maintains below the psychological barrier of 1.2700

FXStreet Team FXStreet

GBP/USD Price Analysis: Improves to near 1.2700 followed by the monthly high

GBP/USD recovers its recent gains, trading higher near 1.2690 during the Asian session on Wednesday. The psychological level at 1.2700 appears as the immediate resistance followed by the weekly high of 1.2747 aligned with the major barrier at 1.2750. A breakthrough above the major barrier could influence the GBP/USD pair to revisit the monthly high at 1.2785 followed by the psychological level at 1.2800.

On the downside, the GBP/USD pair could find support at the major level 1.2650 aligned with the 23.6% Fibonacci retracement at 1.2648. A break below the latter could lead the pair to test the 50-day Exponential Moving Average (EMA) at 1.2632 before the psychological support at 1.2600 level. If the pair moves below the psychological support, it could approach the 38.2% Fibonacci retracement at 1.2532. Read more...

GBP/USD recovers its losses below 1.2700 ahead of UK, US PMI data

The GBP/USD pair recovers its recent losses during the early Asian trading hours on Wednesday. The major pair has flirted with four-day lows near around 1.2650 and rebounded to nearly the 1.2700 mark. Investors await the release of January’s UK advanced Manufacturing and Services PMI for fresh impetus. GBP/USD currently trades near 1.2693, up 0.06% for the day.

According to the Richmond Fed Manufacturing Survey, the composite manufacturing index for January fell to -15 from -11 in December, worse than the market expectation of -7. Among its three component indices, shipments increased from -17 to -15, new orders dropped from -14 to -16, and employment fell significantly from -1 to -15. Read more...

GBP/USD

Overview
Today last price	1.2698
Today Daily Change	0.0012
Today Daily Change %	0.09
Today daily open	1.2686

Trends
Daily SMA20	1.2712
Daily SMA50	1.265
Daily SMA100	1.2455
Daily SMA200	1.2554

Levels
Previous Daily High	1.2748
Previous Daily Low	1.2649
Previous Weekly High	1.2766
Previous Weekly Low	1.2597
Previous Monthly High	1.2828
Previous Monthly Low	1.2501
Daily Fibonacci 38.2%	1.2687
Daily Fibonacci 61.8%	1.271
Daily Pivot Point S1	1.2641
Daily Pivot Point S2	1.2596
Daily Pivot Point S3	1.2543
Daily Pivot Point R1	1.2739
Daily Pivot Point R2	1.2792
Daily Pivot Point R3	1.2837

Author

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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