Pound Sterling Price News and Forecast: GBP/USD sideways trade still likely

FXStreet Team FXStreet

GBP/USD outlook: Bears pressure 1.20 support ahead of US CPI data

Cable dips further in early Monday’s trading, remaining at the back foot, following Friday’s 0.56% fall.

Fresh weakness retraced over 61.8% of last week’s 1.1960/1.2193 recovery leg, which was strongly rejected last Thursday and left a bull-trap above 55DMA.

Near-term structure is negative, as daily studies show strong bearish momentum and a multiple bear-crosses of 10;20;30;55 DMA’s.

Bears pressure psychological 1.20 support, where last week’s action faced strong headwinds and was rejected. Read more...

GBP/USD sideways trade still likely, range of 1.1950-1.2180 – OCBC

The British Pound has started the week on a softer footing. Economists at OCBC Bank expect the GBP/USD pair to trade within a range of 1.1950-1.2180 for the time being.

“Support here at 1.1950 (200-Day Moving Average, 23.6% fibo retracement of 2022 low to high), 1.1850 (100-DMA).”

“Resistance at 1.2190 (50-DMA), 1.2260 (21-DMA) and 1.2450 levels (double top).”

“Sideways trade still likely. Range of 1.1950-1.2180 within a wider range of 1.1850-1.2250.” Read more...

GBP/USD trades with modest losses around mid-1.2000s, lacks follow-through selling

The GBP/USD pair edges lower for the second straight day on Monday and remains on the defensive through the first half of the European session. The pair is currently placed near the mid-1.2000s, just a few pips above the daily low, and seems vulnerable to extending last week's retracement slide from the vicinity of the 1.2200 mark. Read more...

GBP/USD

Overview
Today last price	1.2074
Today Daily Change	0.0020
Today Daily Change %	0.17
Today daily open	1.2054

Trends
Daily SMA20	1.2257
Daily SMA50	1.2186
Daily SMA100	1.1845
Daily SMA200	1.1945

Levels
Previous Daily High	1.2139
Previous Daily Low	1.2047
Previous Weekly High	1.2194
Previous Weekly Low	1.1961
Previous Monthly High	1.2448
Previous Monthly Low	1.1841
Daily Fibonacci 38.2%	1.2082
Daily Fibonacci 61.8%	1.2104
Daily Pivot Point S1	1.2021
Daily Pivot Point S2	1.1988
Daily Pivot Point S3	1.1929
Daily Pivot Point R1	1.2113
Daily Pivot Point R2	1.2172
Daily Pivot Point R3	1.2205

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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