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Pound Sterling Price News and Forecast: GBPUSD is jugging below 1.2350

GBP/USD oscillates below 1.2350, downside looks favored on hawkish Fed commentary

The GBP/USD pair is displaying back-and-forth moves after a south-side drive below the critical resistance of 1.2350 in the early Tokyo session. The Cable witnessed sheer selling pressure on Wednesday after failing to sustain above 1.2435 as hawkish commentaries from Federal Reserve (Fed) policymakers trimmed the risk appetite of the market participants heavily.

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GBP/USD

Overview
Today last price1.2325
Today Daily Change-0.0013
Today Daily Change %-0.11
Today daily open1.2338
 
Trends
Daily SMA201.2108
Daily SMA501.2086
Daily SMA1001.1707
Daily SMA2001.1985
 
Levels
Previous Daily High1.2436
Previous Daily Low1.2255
Previous Weekly High1.2249
Previous Weekly Low1.2086
Previous Monthly High1.2447
Previous Monthly Low1.1992
Daily Fibonacci 38.2%1.2367
Daily Fibonacci 61.8%1.2324
Daily Pivot Point S11.225
Daily Pivot Point S21.2162
Daily Pivot Point S31.2068
Daily Pivot Point R11.2431
Daily Pivot Point R21.2524
Daily Pivot Point R31.2613

Pound jumps as inflation eases

The British pound is in full flight on Wednesday. In the North American session, GBP/USD is trading at 1.2393, up 0.86%. UK inflation eased for a second straight month in December. Headline CPI dipped to 10.5%, down from 10.7% in November and just below the forecast of 10.6%. Core CPI, however, did not show an improvement as it remained unchanged at 6.3%.

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