Pound Sterling Price News and Forecast: GBP/USD plummets to eight-month-low on weak UK data, strong US Dollar

FXStreet Team FXStreet

GBP/USD plummets to eight-month-low on weak UK data, strong US Dollar

The British Pound (GBP) tanks more than 100 pips versus the US Dollar (USD), after hitting a daily high of 1.2219. Nevertheless, offers at around 1.2200 sent the GBP/USD plummeting to a new eight-month low at around the 1.2080s area. Read More...

Pound Sterling recovery falters as UK factory activities continues losing spell

The Pound Sterling (GBP) surrendered gains as the S&P Global reported a contraction in the United Kingdom's Manufacturing PMI for the 14th time in a row and the US Dollar rebounded ahead of Federal Reserve (Fed) Governor Jerome Powell's speech.. The GBP/USD pair is struggling to improve the United Kingdom’s learning curve in handling the repercussions of higher interest rates by the Bank of England (BoE). The BoE has paused its policy-tightening spell after raising them to 5.25% to safeguard the economy from further slowdown. Read More...

GBP/USD now faces some consolidation – UOB

In the view of Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group, GBP/USD could now trade between 1.2100 and 1.2380 in the next few weeks. Read More...

GBP/USD

Overview
Today last price	1.2088
Today Daily Change	-0.0111
Today Daily Change %	-0.91
Today daily open	1.2199

Trends
Daily SMA20	1.2374
Daily SMA50	1.2589
Daily SMA100	1.2624
Daily SMA200	1.2436

Levels
Previous Daily High	1.2272
Previous Daily Low	1.218
Previous Weekly High	1.2272
Previous Weekly Low	1.2111
Previous Monthly High	1.2713
Previous Monthly Low	1.2111
Daily Fibonacci 38.2%	1.2215
Daily Fibonacci 61.8%	1.2237
Daily Pivot Point S1	1.2162
Daily Pivot Point S2	1.2126
Daily Pivot Point S3	1.2071
Daily Pivot Point R1	1.2254
Daily Pivot Point R2	1.2309
Daily Pivot Point R3	1.2346

Author

FXStreet Team

FXStreet

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