Pound Sterling Price News and Forecast: GBP/USD pares BOE-led gains, the biggest in 3.5 months [Video]


GBP/USD sellers attack 1.0800 with eyes on BOE speakers, US GDP

GBP/USD takes offers to refresh the intraday low around 1.0800, snapping a two-day rebound from the record low. In doing so, the cable pair consolidates the biggest daily gains since mid-June during Thursday’s Asian session. Recovery in the US Treasury bond yields joins the market’s discomfort in the Bank of England’s (BOE) confidence to revive the British Pound (GBP) strength to weigh on the GBP/USD prices of late. 

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GBP/USD

Overview
Today last price 1.0799
Today Daily Change -0.0091
Today Daily Change % -0.84
Today daily open 1.089
 
Trends
Daily SMA20 1.1341
Daily SMA50 1.1736
Daily SMA100 1.2
Daily SMA200 1.2616
 
Levels
Previous Daily High 1.0916
Previous Daily Low 1.054
Previous Weekly High 1.1461
Previous Weekly Low 1.084
Previous Monthly High 1.2294
Previous Monthly Low 1.1599
Daily Fibonacci 38.2% 1.0772
Daily Fibonacci 61.8% 1.0683
Daily Pivot Point S1 1.0648
Daily Pivot Point S2 1.0405
Daily Pivot Point S3 1.0271
Daily Pivot Point R1 1.1024
Daily Pivot Point R2 1.1158
Daily Pivot Point R3 1.1401

 


British Pound higher, as BOE moves to adjusts monetary policy [Video]

GBPUSD was consolidating on Wednesday, as markets reacted to news that the Bank of England was set to continue buying gilts. The bank was set to start selling U.K. Bonds (gilts) next week, after deciding to stop QE, however they have opted to alter course. Today’s move comes as the British Pound fell to a record low versus the U.S. Dollar, as a result of recent government led tax cuts.

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