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Pound Sterling Price News and Forecast: GBP/USD sees strong downward move amid USD strength

GBP/USD sees strong downward move amid USD strength, markets eager for US labor data

 
In Tuesday's session, GBP/USD witnessed a substantial dip, trading at around 1.2620, with significant downward momentum primarily triggered by USD strength. A risk-off market environment ahead of key labor market figures from the US contributed to investors seeking refuge in the US Dollar. In addition, the negative outlook on the British economy adds to the selling pressure. Read More...

Pound Sterling dives on downbeat UK factory data, dismal sentiment

The Pound Sterling (GBP) faces a sharp sell-off after the release of the weaker-than-projected S&P Global Manufacturing PMI for December. The factory data remained lower at 46.2 than expectations and the former reading of 46.4. The economic data below the 50.0 threshold indicates contraction in economic activities. The Manufacturing PMI  remains below the 50.0 threshold for the 17-month in a row. Read More...

GBP/USD

Overview
Today last price1.2626
Today Daily Change-0.0105
Today Daily Change %-0.82
Today daily open1.2731
 
Trends
Daily SMA201.2666
Daily SMA501.25
Daily SMA1001.245
Daily SMA2001.2531
 
Levels
Previous Daily High1.2731
Previous Daily Low1.2731
Previous Weekly High1.2828
Previous Weekly Low1.2685
Previous Monthly High1.2828
Previous Monthly Low1.2501
Daily Fibonacci 38.2%1.2731
Daily Fibonacci 61.8%1.2731
Daily Pivot Point S11.2731
Daily Pivot Point S21.2731
Daily Pivot Point S31.2731
Daily Pivot Point R11.2731
Daily Pivot Point R21.2731
Daily Pivot Point R31.2731

GBP/USD Price Analysis: Grapples to recover recent losses, trades near 1.2730

GBP/USD looks to halt a two-day losing streak, trading slightly higher near 1.2730 during the Asian hours on Tuesday. The GBP/USD pair receives upward support from the hawkish stance of the Bank of England (BoE), coupled with the speculation on the Federal Reserve’s (Fed) dovish stance on the interest rate trajectory in the first quarter of 2024. Read More...
 

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