Pound Sterling Price News and Forecast: GBP/USD sinks below the 1.1000 figure, registering fresh 37-year lows

Breaking: GBP/USD sinks below the 1.1000 figure, registering fresh 37-year lows

The GBP/USD is collapsing from 1.1200, eyeing a break below the 1.1000 figure, which was last seen in March 1985, courtesy of dismal market sentiment, spurred by worldwide central bank tightening to quell price pressures. The GBP/USD is trading at 1.0965, below its opening price by more than 2%, after hitting a daily high of 1.1273. Read more…

GBP/USD Weekly Forecast: Oversold but is selling overdone?

Nothing could stop GBP bears in the last week, as GBP/USD booked two straight weeks of decline. The US Federal Reserve (Fed) and the Bank of England (BOE) rate hike decisions underscored the widening policy divergence while geopolitical tensions also played a part in the pair’s over-400-pips weekly loss. Next week, all eyes will be on the US economic data and Fedspeak, as the UK docket remains relatively scarce. Read more…

Pound can’t find its footing

GBP/USD is down sharply today and has fallen below the 1.11 level for the first time since 1985. In the European session, GBP/USD is trading at 1.1125, down 1.16%. The British pound can’t seem to find any love. GBP/USD is looking dreadful, down 2.1% this week and 3.8% in September. The currency hasn’t sunk to such levels since 1985 and the strong US dollar could extend the pound’s current downtrend. Read more…

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Read More

Popular Posts