Pound Sterling Price News and Forecast: GBP/USD slides below mid-1.3100s

FXStreet Team FXStreet

GBP/USD Forecast: Next bearish target aligns at 1.3120

GBP/USD has started the new week under strong bearish pressure with the greenback capitalizing on safe-haven flows. The pair was last seen testing the 1.3160 support and additional losses are likely in case this level turns into resistance.

Russian President Vladimir Putin reiterated that they remain committed to ramping up the aggression against Ukraine until their demands are met. The Ukrainian defence ministry said early Monday that Russia was targeting infrastructure to disrupt the flow of information. Additionally, a Ukrainian army official noted that Russia was accumulating resources with the intention of attacking Kyiv in the near term. Read more...

GBP/USD slides below mid-1.3100s, lowest since December 2020 amid a blowout USD rally

The GBP/USD pair continued losing ground through the mid-European session and dropped to the lowest level since December 2020, around the 1.3140 region in the last hour.

The pair added to last week's heavy losses and witnessed some follow-through selling for the third successive day on Monday amid an extension of the recent strong US dollar rally. Investors continued to dump riskier assets in the wake of a further escalation in the Russia-Ukraine conflict. This, in turn, boosted demand for traditional safe-haven assets and pushed the USD to its highest level since May 2020. Read more...

GBP/USD: Failure to hold 1.3160 to open up significant losses toward 1.30 – SocGen

GBP/USD is drifting towards the low of December at 1.3160 – removal of which would clear the way for a substantial drop to the 1.30 level, economists at Société Générale report.

“Defending 1.3160 could result in a bounce, however, daily Ichimoku cloud at 1.3460 is expected to be a hurdle.” Read more...

GBP/USD

Overview
Today last price	1.3198
Today Daily Change	-0.0051
Today Daily Change %	-0.38
Today daily open	1.3249

Trends
Daily SMA20	1.3492
Daily SMA50	1.3522
Daily SMA100	1.3486
Daily SMA200	1.3653

Levels
Previous Daily High	1.3354
Previous Daily Low	1.3202
Previous Weekly High	1.3438
Previous Weekly Low	1.3202
Previous Monthly High	1.3644
Previous Monthly Low	1.3273
Daily Fibonacci 38.2%	1.326
Daily Fibonacci 61.8%	1.3296
Daily Pivot Point S1	1.3183
Daily Pivot Point S2	1.3116
Daily Pivot Point S3	1.3031
Daily Pivot Point R1	1.3335
Daily Pivot Point R2	1.3421
Daily Pivot Point R3	1.3487

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FXStreet Team

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