GBP/USD prints fresh highs on BoE expectations
At 1.3490, GBP/USD is trading near to the highs of the day that came in just shy of 1.3495. The pair has moved from a low of 1.3396 and climbed to a one-week high after data showed UK inflation surged to a 10-year high last month. The pound is firmer across the board due to the expectations of an interest rate hike as early as next month following a week, so far, of better than expected data. On Tuesday, for instance, UK data showed Britain's job market withstood the end of the government's furlough scheme. Read more...
|Today last price||1.3492|
|Today Daily Change||0.0070|
|Today Daily Change %||0.52|
|Today daily open||1.3422|
|Previous Daily High||1.3473|
|Previous Daily Low||1.3405|
|Previous Weekly High||1.3607|
|Previous Weekly Low||1.3353|
|Previous Monthly High||1.3834|
|Previous Monthly Low||1.3434|
|Daily Fibonacci 38.2%||1.3447|
|Daily Fibonacci 61.8%||1.3431|
|Daily Pivot Point S1||1.3394|
|Daily Pivot Point S2||1.3366|
|Daily Pivot Point S3||1.3327|
|Daily Pivot Point R1||1.3462|
|Daily Pivot Point R2||1.3501|
|Daily Pivot Point R3||1.3529|
GBP/USD Forecast: Bulls eye Brexit headlines after hot UK inflation data
GBP/USD has edged higher in the early European session on Wednesday with the latest data from the UK revealing that inflation was stronger than expected in October. The pair seems to be struggling to push higher, however, suggesting that investors are focused on Brexit headlines rather than the market pricing of a strong probability of a Bank of England (BoE) rate hike in December. Read more...
GBP/USD analysis: Encounters SM
The GBP/USD currency exchange rate reached and pierced the resistance of the 200-hour simple moving average at mid-day on Wednesday. Previously, during the morning hours of the day, the rate declined and shortly traded below the support of the 100-hour SMA. Meanwhile, analysts spotted a channel-up pattern on the rate's hourly candle chart. Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.