Pound Sterling Price News and Forecast: GBP/USD slumps sharply as BoE signals peak interest rates

FXStreet Team FXStreet

GBP/USD slumps sharply as BoE signals peak interest rates, US business activity improves

The British Pound (GBP) continues its free fall against the US Dollar (USD), after the Bank of England’s (BoE) official comments suggest the central bank is about to reach its peak interest rates. This, and data from the United States (US) showing business activity picked up, increases Federal Reserve hike expectations. The GBP/USD is trading at 1.2502 after hitting a daily high of 1.2588. Read More...

Pound Sterling tumbles as BoE seems unwilling to raise interest rates further

The Pound Sterling (GBP) drops below the psychological support of 1.2500 after facing intense selling pressure post-speech from Bank of England (BoE) Governor Andrew Bailey and policymaker Swati Dhingra. BoE Bailey cited that the central bank is not clear about raising interest rates further. The central bank is expected to remain data-dependent while BoE Dhingra said that current monetary policy is sufficiently restrictive. Read More...

GBP/USD: A breach of 1.2500 looks imminent – UOB

In the view of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD does not rule out a break below the 1.2500 support in the near term. Read More...

GBP/USD

Overview
Today last price	1.2504
Today Daily Change	-0.0060
Today Daily Change %	-0.48
Today daily open	1.2564

Trends
Daily SMA20	1.2675
Daily SMA50	1.2771
Daily SMA100	1.2654
Daily SMA200	1.2422

Levels
Previous Daily High	1.2632
Previous Daily Low	1.2528
Previous Weekly High	1.2746
Previous Weekly Low	1.2563
Previous Monthly High	1.2841
Previous Monthly Low	1.2548
Daily Fibonacci 38.2%	1.2568
Daily Fibonacci 61.8%	1.2592
Daily Pivot Point S1	1.2518
Daily Pivot Point S2	1.2471
Daily Pivot Point S3	1.2414
Daily Pivot Point R1	1.2621
Daily Pivot Point R2	1.2678
Daily Pivot Point R3	1.2725

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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