Pound Sterling Price News and Forecast: GBP/USD rebounds strongly amid Fed rate cut speculations

FXStreet Team FXStreet

GBP/USD rebounds strongly amid Fed rate cut speculations, rises above 1.2700

The GBP/USD snapped two days of losses and rallies during the mid-North American session on Tuesday, gaining more than 0.70% after bouncing off daily lows of 1.2632. The major is exchanging hands at 1.2737, boosted by speculations the US Federal Reserve (Fed) would lower borrowing costs before the Bank of England (BoE). Read More...

Pound Sterling advances amid improved market mood, UK Inflation in focus

The Pound Sterling (GBP) extends recovery ahead of the United Kingdom Consumer Price Index (CPI) for November, scheduled for release on December 20. Investors see the UK’s headline and core inflation declining further in November as higher interest rates have dampened household spending on core goods. Prices of goods at factory gates are seen contracting due to poor demand from the slowing domestic and international economy. Read More...

GBP/USD snaps the two-day losing streak around the mid-1.2600s

The GBP/USD pair snaps its two-day losing streak during the early Asian session on Tuesday. The rebound of the pair is bolstered by the weaker US Dollar (USD) and the lower US Treasury bond yields. Investors await the UK inflation data, due on Wednesday. The annual CPI and Core CPI figures are estimated to show an increase of 4.4% YoY and 5.5% YoY in November, respectively. The major pair currently trades near 1.2653, up 0.05% on the day. Read More...

GBP/USD

Overview
Today last price	1.2718
Today Daily Change	0.0071
Today Daily Change %	0.56
Today daily open	1.2647

Trends
Daily SMA20	1.2615
Daily SMA50	1.2396
Daily SMA100	1.2451
Daily SMA200	1.2506

Levels
Previous Daily High	1.2704
Previous Daily Low	1.2629
Previous Weekly High	1.2794
Previous Weekly Low	1.2501
Previous Monthly High	1.2733
Previous Monthly Low	1.2096
Daily Fibonacci 38.2%	1.2658
Daily Fibonacci 61.8%	1.2675
Daily Pivot Point S1	1.2616
Daily Pivot Point S2	1.2585
Daily Pivot Point S3	1.254
Daily Pivot Point R1	1.2691
Daily Pivot Point R2	1.2735
Daily Pivot Point R3	1.2767

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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