Pound Sterling Price News and Forecast: GBPUSD rallies above 1.2050, prints a new three-month high

FXStreet Team FXStreet

GBP/USD Price Analysis: Establishment above 1.2000 is a prerequisite for further upside

The GBP/USD pair is displaying a sideways performance in the early Tokyo session after a juggernaut rally to near 1.2080. The Cable witnessed an immense buying interest after sustaining above the round-level resistance of 1.1900. A significant improvement in investors’ risk appetite strengthened the Pound Sterling.

GBP/USD rallies above 1.2050, prints a new three-month high

The Pound Sterling is rallying back above 1.2000 after the release of mixed economic data out of the United States (US), weighed on the US Dollar (USD). At the same time, a risk-on impulse keeps European and US equities trading with gains ahead of the release of the Federal Reserve’s (Fed) last meeting minutes. At the time of writing, the GBP/USD is trading at 1.2051 after hitting a daily low of 1.1872.

GBP/USD

Overview
Today last price	1.2074
Today Daily Change	0.0008
Today Daily Change %	0.07
Today daily open	1.2066

Trends
Daily SMA20	1.1654
Daily SMA50	1.1391
Daily SMA100	1.1643
Daily SMA200	1.22

Levels
Previous Daily High	1.2082
Previous Daily Low	1.1873
Previous Weekly High	1.2029
Previous Weekly Low	1.171
Previous Monthly High	1.1646
Previous Monthly Low	1.0924
Daily Fibonacci 38.2%	1.2002
Daily Fibonacci 61.8%	1.1952
Daily Pivot Point S1	1.1932
Daily Pivot Point S2	1.1798
Daily Pivot Point S3	1.1723
Daily Pivot Point R1	1.2141
Daily Pivot Point R2	1.2215
Daily Pivot Point R3	1.2349

Author

FXStreet Team

FXStreet

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