Pound Sterling Price News and Forecast: GBP/USD slumps on last week’s BoE’s dovish stance

FXStreet Team FXStreet

GBP/USD slumps on last week’s BoE’s dovish stance; USD soars on high US yields

The British Pound (GBP) remains under pressure following a surprising decision by the Bank of England (BoE) to keep rates unchanged, which caught off guard traders, expecting further tightening. US Treasury bond yields edged to multi-year highs, underpinning the Greenback (USD), as seen by the GBP/USD trading at 1.2215, registering losses of 0.16%. Read More...

Pound Sterling remains delicate on sticky inflation and bleak demand outlook

The Pound Sterling (GBP) faces selling pressure as investors start worrying about the United Kingdom’s weak economic outlook and upside risks to inflation on Albion’s shores. The GBP/USD pair came under severe pressure after an unexpected pause in the policy-tightening spell by the Bank of England (BoE) last week. The GBP/USD outlook weakens as a sudden skip in the rate-tightening regime by the UK central bank against expectations of an interest rate increase signaled risks of economic slowdown. Read More...

GBP/USD

Overview
Today last price	1.222
Today Daily Change	-0.0020
Today Daily Change %	-0.16
Today daily open	1.224

Trends
Daily SMA20	1.249
Daily SMA50	1.2666
Daily SMA100	1.2643
Daily SMA200	1.2434

Levels
Previous Daily High	1.2302
Previous Daily Low	1.2231
Previous Weekly High	1.2425
Previous Weekly Low	1.2231
Previous Monthly High	1.2841
Previous Monthly Low	1.2548
Daily Fibonacci 38.2%	1.2258
Daily Fibonacci 61.8%	1.2275
Daily Pivot Point S1	1.2213
Daily Pivot Point S2	1.2187
Daily Pivot Point S3	1.2143
Daily Pivot Point R1	1.2284
Daily Pivot Point R2	1.2328
Daily Pivot Point R3	1.2355

GBP/USD Price Analysis: Remains on the defensive below the 1.2250 mark amid the oversold condition

The GBP/USD pair remains on the defensive below the mid-1.2200s during the Asian session on Monday. Market players await the release of the UK’s Gross Domestic Product (GDP) for the second quarter and the US highly-anticipated Core Personal Consumption Expenditure (PCE) Price Index data due on Friday. The major pair currently trades near 1.2242, gaining 0.02% on the day. Read More...

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FXStreet Team

FXStreet

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