Pound Sterling Price News and Forecast: GBP/USD tumbles to the 1.2700 psychological support

FXStreet Team FXStreet

GBP/USD Price Analysis: Dives to near 1.2700 psychological support followed by 14-day EMA

GBP/USD halts its three-day winning streak, trading around 1.2700 psychological level during the Asian session on Monday. The GBP/USD pair seems to face a critical juncture, with the possibility of a break below the psychological level. If this occurs, it could surpass the 14-day Exponential Moving Average (EMA) at 1.2692.

A breach below this support region might exert downward pressure on the GBP/USD pair, potentially leading it to navigate toward the major support at 1.2650. This level aligns with the 23.6% Fibonacci retracement at 1.2643, serving as a significant area to watch for potential price movements. Read more...

GBP/USD edges lower to near 1.2710 after recent gains on improved risk appetite

GBP/USD halts its winning streak that began on Wednesday, trading around 1.2710 during the Asian session on Monday. However, the Pound Sterling (GBP) received upward support against the US Dollar (USD) on improved risk appetite after the mixed economic data from the United States (US).

The US Dollar Index (DXY) maintains a sideways movement near 102.40 with a negative bias, potentially influenced by the decline in the short-term yield on the 2-year US Treasury bond. The yield on the 2-year bond trades lower at 4.38%, by the press time. Read more...

GBP/USD

Overview
Today last price	1.2701
Today Daily Change	-0.0019
Today Daily Change %	-0.15
Today daily open	1.272

Trends
Daily SMA20	1.2686
Daily SMA50	1.2543
Daily SMA100	1.2448
Daily SMA200	1.2538

Levels
Previous Daily High	1.2771
Previous Daily Low	1.2611
Previous Weekly High	1.2771
Previous Weekly Low	1.2611
Previous Monthly High	1.2828
Previous Monthly Low	1.2501
Daily Fibonacci 38.2%	1.271
Daily Fibonacci 61.8%	1.2672
Daily Pivot Point S1	1.2631
Daily Pivot Point S2	1.2541
Daily Pivot Point S3	1.2471
Daily Pivot Point R1	1.279
Daily Pivot Point R2	1.2861
Daily Pivot Point R3	1.295

Author

FXStreet Team

FXStreet

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