Pound Sterling Price News and Forecast: GBP/USD October low of 1.2037 will be the key support level

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling looks fragile ahead of Fed and BoE meetings

GBP/USD fluctuated in a narrow channel in the Asian session before retreating to the 1.2100 area in the European morning. The near-term technical outlook suggests that the bearish bias stays intact.

Over the weekend, the United Arab Emirates (UAE) requested a UN Security Council emergency meeting to discuss the situation in the Gaza Strip, asking "for an immediate ceasefire to ensure that civilians and civilian institutions are not targeted." Read more...

GBP/USD: October low of 1.2037 will be the key support level – MUFG

Economists at MUFG Bank analyze GBP outlook ahead of the BoE announcement on Thursday.

The worsening economic data has been clear and will likely be clearly acknowledged by Governor Andrew Bailey in the press conference. We see this inevitable acknowledgement of weaker data and some evidence that the labour market conditions point to reduced wage inflation risks as helping to push yields lower. Read more...

GBP/USD: Trend momentum is weak, favouring more range trading – Scotiabank

GBP/USD is still finding support on dips below 1.21. Economists at Scotiabank analyze the pair’s outlook.

Trading may remain relatively quiet ahead of the BoE policy decision on Thursday. Markets expect policy to be left on hold but the GBP may see a minor bid if the voting shows a tight split among the nine policymakers. Read more...

GBP/USD

Overview
Today last price	1.2143
Today Daily Change	0.0022
Today Daily Change %	0.18
Today daily open	1.2121

Trends
Daily SMA20	1.2175
Daily SMA50	1.2352
Daily SMA100	1.257
Daily SMA200	1.2439

Levels
Previous Daily High	1.2163
Previous Daily Low	1.2106
Previous Weekly High	1.2289
Previous Weekly Low	1.207
Previous Monthly High	1.2713
Previous Monthly Low	1.2111
Daily Fibonacci 38.2%	1.2128
Daily Fibonacci 61.8%	1.2141
Daily Pivot Point S1	1.2097
Daily Pivot Point S2	1.2073
Daily Pivot Point S3	1.204
Daily Pivot Point R1	1.2154
Daily Pivot Point R2	1.2187
Daily Pivot Point R3	1.2211

Author

FXStreet Team

FXStreet

EUR/USD gains ground above 1.1800 ahead of Eurozone HICP release

The EUR/USD pair trades on a firmer note near 1.1830 during the early European session on Wednesday. Nonetheless, the upside for the major pair might be limited as traders remain cautious after a partial government shutdown swiftly ended. Later on Wednesday, the preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be closely watched.

GBP/USD steadies above 1.3700 near nine-day EMA support

GBP/USD steadies after registering modest gains in the previous session, trading around 1.3700 during the Asian hours on Wednesday. The technical analysis of the daily chart points to a potential bearish reversal as the range narrows, indicating waning buyer momentum within a rising wedge pattern.

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Bitcoin, Ethereum and Ripple extend free fall amid broad market sell-off

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Gold and silver recovery continues, but equities sink as tech is shunned

The risk recovery is on pause as we move through Tuesday. After signs that a recovery in precious metals could boost overall risk appetite earlier today, a nasty sell off in tech stocks has pushed the Nasdaq and the S&P 500 down by 1.7% and 1.1% respectively.

Solana Price Forecast: SOL drops below $100 as bears tighten grip

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