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Pound Sterling Price News and Forecast: GBP/USD vulnerable to a break of parity later this year

GBP/USD Forecast: Is BoE's message strong enough for a steady pound recovery?

GBP/USD has managed to pull away from the all-time low it touched at 1.0340 at the beginning of the week. The pair was last seen rising nearly 1% on the day at 1.0800 but it might need further reassurance from the Bank of England (BoE) for an extended rebound.

Following the British pound's significant depreciation, the BoE released a statement late Monday and noted that they were monitoring the developments in financial markets closely. The BoE added that they won't hesitate to raise interest rates by "as much as needed" to return inflation to the 2% target. However, the bank also said that they welcome the government’s commitment to sustainable economic growth, which was why GBP fell sharply in the first place. Read more...

GBPUSD

GBP/USD: Vulnerable to a break of parity later this year – ING

There has been a loose discussion in the market about the prospect of GBP/USD hitting parity for some months. Economists at ING believe that the pair could break under 1.00 this year.

“At this stage, we think UK authorities will probably just have to let sterling find its right level. The UK has a reserve currency so it can always issue debt – it’s just a question of the right price.” Read more...

GBP/USD could retest 1.0350 over the next month – ING

GBP/USD has recovered the 1.08 level. Nonetheless, economists at ING expect the pair to ease back lower towards 1.0350.

“FX markets feel like the dollar is going into early 1980s over-drive territory and barring a stark reversal in hawkish Fed expectations or slowing growth dynamics, we would say cable could retest 1.0350 over the next month.”

“On a day in which the dollar is consolidating, GBP/USD could trace out something like a 1.07-1.09 range.” Read more...

GBP/USD

Overview
Today last price1.0789
Today Daily Change0.0102
Today Daily Change %0.95
Today daily open1.0687
 
Trends
Daily SMA201.1424
Daily SMA501.1783
Daily SMA1001.2029
Daily SMA2001.2641
 
Levels
Previous Daily High1.0931
Previous Daily Low1.0339
Previous Weekly High1.1461
Previous Weekly Low1.084
Previous Monthly High1.2294
Previous Monthly Low1.1599
Daily Fibonacci 38.2%1.0565
Daily Fibonacci 61.8%1.0705
Daily Pivot Point S11.0374
Daily Pivot Point S21.006
Daily Pivot Point S30.9782
Daily Pivot Point R11.0966
Daily Pivot Point R21.1244
Daily Pivot Point R31.1558

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