Pound Sterling Price News and Forecast: GBP/USD suffers seven-day slide amid weak UK PMIs

FXStreet Team FXStreet

GBP/USD suffers seven-day slide amid weak UK PMIs, ahead of FOMC's decision

GBP/USD extends its downtrend to seven consecutive days amidst mixed economic data from the United States (US), while further deterioration in the United Kingdom (UK) economy paints a gloomy scenario as the Bank of England (BoE) struggles to curb high inflation. At the time of writing, the GBP/USD is trading at 1.2831 after reaching a high of 1.2883, down 0.16%. Read More...

Pound Sterling volatility drops as investors remain mixed about BoE's rate hike scale

The Pound Sterling (GBP) surrenders its entire gains posted on Friday as the United Kingdom’s preliminary S&P Global PMI data for July came in below expectations. The GBP/USD pair drops as contracting factory activity and a bleak service sector builds pressure on the Pound Sterling. Britain’s economic prospects are facing the wrath of elevated inflation and higher interest rates by the Bank of England (BoE). Read More...

GBP/USD risks extra pullbacks near term – UOB

Further losses appear in store for GBP/USD in the short-term horizon, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

GBP/USD

Overview
Today last price	1.2821
Today Daily Change	-0.0032
Today Daily Change %	-0.25
Today daily open	1.2853

Trends
Daily SMA20	1.2844
Daily SMA50	1.2659
Daily SMA100	1.2508
Daily SMA200	1.2246

Levels
Previous Daily High	1.2905
Previous Daily Low	1.2816
Previous Weekly High	1.3126
Previous Weekly Low	1.2816
Previous Monthly High	1.2848
Previous Monthly Low	1.2369
Daily Fibonacci 38.2%	1.285
Daily Fibonacci 61.8%	1.2871
Daily Pivot Point S1	1.2811
Daily Pivot Point S2	1.2769
Daily Pivot Point S3	1.2723
Daily Pivot Point R1	1.29
Daily Pivot Point R2	1.2946
Daily Pivot Point R3	1.2988

Author

FXStreet Team

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