Pound Sterling Price News and Forecast: GBP/USD tumbles from 20-week high

FXStreet Team FXStreet

GBP/USD tumbles from 20-week high as markets reverse flows back into the US Dollar, aimed for 1.2700

The GBP/USD rose in early Thursday’s trading window, climbing to a 20-week high before slumping back and seeing a downside extension sparked by an unexpected climb in US Treasury yields during a 7-year T-note auction.

The US Dollar (USD) is now flat on the week against the Pound Sterling (GBP), declining nearly 0.9% from Thursday’s high as the GBP/USD heads back towards the 1.2700 handle. Read More...

Pound Sterling drops as recession in UK seems likely

The Pound Sterling (GBP) fell vertically from fresh four-month high but is looking to recover as investors hope that the Bank of England (BoE) may maintain a restrictive monetary policy stance, knowing that inflation in the United Kingdom economy is highest in comaprison with other Group of Seven economies. The GBP/USD pair struggles to continue winning streak as the risk-appetite of the market participants has reduced despite early rate cut expectations from the Federal Reserve (Fed). Read More...

GBP/USD holds above 1.2800 amid the USD weakness, focus on US Jobless Claims

The GBP/USD pair extends its upside above the 1.2800 mark during the Asian trading hours on Thursday. The decline in inflationary pressure in the US economy and dovish comments from the Federal Reserve (Fed) have dragged the US Dollar (USD) lower and lent some support to GBP/USD. At press time, the major pair is trading at 1.2810, up 0.09% on the day. Read More...

GBP/USD

Overview
Today last price	1.2734
Today Daily Change	-0.0066
Today Daily Change %	-0.52
Today daily open	1.28

Trends
Daily SMA20	1.2653
Daily SMA50	1.2467
Daily SMA100	1.2448
Daily SMA200	1.2524

Levels
Previous Daily High	1.2803
Previous Daily Low	1.2699
Previous Weekly High	1.2762
Previous Weekly Low	1.2612
Previous Monthly High	1.2733
Previous Monthly Low	1.2096
Daily Fibonacci 38.2%	1.2763
Daily Fibonacci 61.8%	1.2738
Daily Pivot Point S1	1.2731
Daily Pivot Point S2	1.2663
Daily Pivot Point S3	1.2627
Daily Pivot Point R1	1.2835
Daily Pivot Point R2	1.2871
Daily Pivot Point R3	1.294

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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