Pound Sterling Price News and Forecast: GBP/USD rebounds from 50 DMA support

FXStreet Team FXStreet

Could GBP/USD drop towards the 1.2050 level?

Looking at GBPUSD’s chart, we can see that the FX pair is dropped to the current rate of around $1.2188, reaching a new low for the week. At $1.2180 we expect a technical reaction as that level is the support level of the forex pair, but if it fails to hold above that level, then it could drop towards its next support level which is located at around $1.2050. Read more...

GBP/USD rebounds from 50 DMA support, climbs back above mid-1.2200s ahead of US NFP

The GBP/USD pair finds decent support near the 50-day SMA and stages a goodish intraday recovery from the 1.2185-1.2180 region, or a nearly three-week low touched earlier this Friday. The momentum allows spot prices to recover a part of the previous day's Bank of England (BoE)-inspired losses and climb back above the 1.2250 level during the mid-European session. Read more...

GBP/USD trades in the 1.22s after penetrating major trendline, traders now await US NFPs

The GBP/USD pair extends the previous day's rejection slide from the 1.2400 mark and continues losing ground for the second successive day on Friday. Spot prices drop to a nearly three-week low during the first half of the European session, with bears looking to build on the negative momentum further below the 1.2200 round-figure mark. The pair has broken below a major multi-month trendline drawn from the September 2022 lows suggesting the possibility of a dramatic shift in trend and more downside on the horizon. Read more...

GBP/USD

Overview
Today last price	1.2259
Today Daily Change	0.0021
Today Daily Change %	0.17
Today daily open	1.2238

Trends
Daily SMA20	1.2291
Daily SMA50	1.2191
Daily SMA100	1.1797
Daily SMA200	1.1958

Levels
Previous Daily High	1.2402
Previous Daily Low	1.2229
Previous Weekly High	1.2448
Previous Weekly Low	1.2263
Previous Monthly High	1.2448
Previous Monthly Low	1.1841
Daily Fibonacci 38.2%	1.2295
Daily Fibonacci 61.8%	1.2336
Daily Pivot Point S1	1.2178
Daily Pivot Point S2	1.2117
Daily Pivot Point S3	1.2005
Daily Pivot Point R1	1.2351
Daily Pivot Point R2	1.2463
Daily Pivot Point R3	1.2524

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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