Pound Sterling Price News and Forecast: GBP/USD puts efforts to retrace its recent losses

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Pound Sterling looks to Fed and BoE verdicts for fresh direction

The Pound Sterling (GBP) gave into the US Dollar (USD) resurgence, as GBP/USD registered a sharp correction from seven-month highs of 1.2894 reached a week ago.

The US Dollar jumped back on the bids, mainly underpinned by less dovish US Federal Reserve (Fed) policy expectations. Traders pared bets for a June interest rate cut by the Fed following the release of the inflation data from the United States (US). Read more...

GBP/USD consolidates around 1.2730 as markets adopt caution ahead of Fed decision

GBP/USD appears to reverse its decline initiated on Thursday, hovering around 1.2730 during the Asian session on Monday. However, the pair faced setbacks amidst market caution preceding the US Federal Reserve's interest rate decision on Wednesday.

The US Dollar Index (DXY) experienced a surge in momentum, buoyed by the rise in US Treasury yields on Friday. This uptick in yields was fueled by a hawkish sentiment surrounding the Federal Reserve, which was anticipated to maintain its heightened interest rates amidst recent inflationary pressures. However, a subsequent retreat in US yields exerted pressure on the US Dollar (USD), at the time of writing. Read more...

GBP/USD

Overview
Today last price	1.2732
Today Daily Change	-0.0004
Today Daily Change %	-0.03
Today daily open	1.2736

Trends
Daily SMA20	1.2709
Daily SMA50	1.2686
Daily SMA100	1.2614
Daily SMA200	1.2592

Levels
Previous Daily High	1.2759
Previous Daily Low	1.2725
Previous Weekly High	1.2865
Previous Weekly Low	1.2725
Previous Monthly High	1.2773
Previous Monthly Low	1.2518
Daily Fibonacci 38.2%	1.2738
Daily Fibonacci 61.8%	1.2746
Daily Pivot Point S1	1.2721
Daily Pivot Point S2	1.2706
Daily Pivot Point S3	1.2687
Daily Pivot Point R1	1.2754
Daily Pivot Point R2	1.2773
Daily Pivot Point R3	1.2788

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FXStreet Team

FXStreet

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