The Pound Sterling rallied sharply against the US Dollar following a dismal ISM Services PMI reading, which increased the likelihood that the Federal Reserve will indeed cut rates at least once in 2024.
GBP/USD rises and surpasses 1.2700 resistance after weak ISM Services PMI. Technicals show buyer momentum; RSI remains bullish above 50. Resistance levels: 1.2777 , 1.2760/1.2775 , 1.2800, 1.2860 , 1.2894 . Support points: 1.2750, 1.2700, 1.2662 , 1.2644 . The GBP/USD trades at 1.2772, up 0.69%. GBP/USD Price Analysis: Technical outlook The GBP/USD pushed through key resistance seen at 1.2700 and aimed toward a confluence of technical resistance levels, like the May 27 high of 1.
Once surpassed, the 50-day moving average emerges as first support at 1.2662, followed by the 100-DMA at 1.2644. GBP/USD Price Action – Daily Chart British Pound PRICE Today The table below shows the percentage change of British Pound against listed major currencies today. British Pound was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.51% -0.57% -0.08% -0.34% -0.74% -0.60% -0.33% EUR 0.51% -0.07% 0.45% 0.17% -0.24% -0.07% 0.18% GBP 0.57% 0.07% 0.51% 0.23% -0.17% 0.
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