Pound Sterling Price News and Forecast: GBP/USD move back below 1.20 seems inevitable

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling bulls hesitate as 1.2400 resistance stays intact

GBP/USD failed to benefit from the modest US Dollar (USD) weakness seen in the American session on Monday and closed the day virtually unchanged. Following a short-lasting recovery attempt toward 1.2400 early Tuesday, the pair lost its traction and came in within a touching distance of the multi-month low it set at 1.2730. Read more...

GBP/USD: Move back below 1.20 seems inevitable – SocGen

Kit Juckes, Chief Global FX Strategist at Société Générale, is worried about Sterling.

The more the market worries about the growth outlook in the UK, the more the prospect of further rate hikes beyond this week will a) fade away and b) scare investors. Read more...

GBP/USD: Move through 1.2550 needed to suggest more sustainable gains – Scotiabank

GBP/USD is holding a narrow consolidation range between support at 1.2370 and resistance at 1.2410. Economists at Scotiabank analyze Cable’s outlook.

Short-term trend dynamics are bearish which should limit the scope for gains in the near term. Read more...

GBP/USD

Overview
Today last price	1.2405
Today Daily Change	0.0022
Today Daily Change %	0.18
Today daily open	1.2383

Trends
Daily SMA20	1.2559
Daily SMA50	1.2723
Daily SMA100	1.2652
Daily SMA200	1.2433

Levels
Previous Daily High	1.241
Previous Daily Low	1.237
Previous Weekly High	1.2548
Previous Weekly Low	1.2379
Previous Monthly High	1.2841
Previous Monthly Low	1.2548
Daily Fibonacci 38.2%	1.2395
Daily Fibonacci 61.8%	1.2386
Daily Pivot Point S1	1.2365
Daily Pivot Point S2	1.2348
Daily Pivot Point S3	1.2325
Daily Pivot Point R1	1.2406
Daily Pivot Point R2	1.2428
Daily Pivot Point R3	1.2446

Author

FXStreet Team

FXStreet

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