Recording a third consecutive weekly decline, the Pound Sterling (GBP) reached its lowest level in a month against the US Dollar (USD), leaving GBP/USD to battle the 1.2700 threshold.
The Pound Sterling hit monthly lows near 1.2700 against the US Dollar. GBP/USD sellers set to retain control in the data-light week ahead. Defending the 200-day SMA at 1.2650 is critical for Pound Sterling amid a bearish RSI. Recording a third consecutive weekly decline, the Pound Sterling reached its lowest level in a month against the US Dollar , leaving GBP/USD to battle the 1.2700 threshold.
There are no top-tier data releases from the UK, and therefore, the focus is expected to be solely on the US macro news and Fedspeak, as Fed policymakers return to the rostrum following the ‘blackout period’. The US ISM Services PMI will stand out on Monday, as the final S&P Global Services PMI reports will be also published that day from the UK and the US.
Currencies Majors Technical Analysis
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD Forecast: Pound Sterling holds steady on UK election dayGBP/USD advanced toward 1.2800 and reached its highest level since June 13 on Wednesday.
Read more »
GBP/USD Forecast: Pound Sterling looks north after UK electionThe Pound Sterling (GBP) built on the previous week’s rebound against the US Dollar (USD), driving the GBP/USD pair back toward 1.2800, the highest level in nearly three weeks.
Read more »
GBP/USD Forecast: Pound Sterling awaits high-impact UK data for further upsideThe Pound Sterling (GBP) extended its two-week uptrend against the US Dollar (USD), as the GBP/USD pair clinched fresh 2024 highs.
Read more »
GBP/USD Forecast: Pound Sterling pullback to pave the way for fresh uptrendThe Pound Sterling (GBP) recorded a fresh 12-month high above 1.3000 against the US Dollar (USD) but the GBP/USD pair snapped its two consecutive weekly gains to settle in the red.
Read more »
GBP/USD Forecast: Pound Sterling to focus on Fed-BoE policy divergenceThe Pound Sterling (GBP) stretched its corrective downside from yearly highs against the US Dollar (USD), sending GBP/USD back under 1.2900 – the lowest level in over a week.
Read more »
GBP/USD Forecast: Pound Sterling could rally with a BoE holdAfter posting small gains on Wednesday, GBP/USD came under renewed bearish pressure and fell to its weakest level in three weeks below 1.2800 in the European morning on Thursday.
Read more »