During the mid-North American session, the Pound Sterling retreats and registers losses against the US Dollar, slumping below 1.2500.
GBP/USD registers a decline of 0.27%, influenced by US inflation data that suggests the Federal Reserve may delay rate cuts. The pair's recent inability to break the 200-day moving average at 1.2557 highlights its downward bias, with support levels now in focus. Potential for further losses if the 'dark cloud cover' candlestick pattern forms, targeting 1.2400 and possibly extending to the YTD low of 1.2300.
If the GBP/USD finishes Friday’s session at around the 1.2480, that will form a ‘dark cloud cover,’ opening the door for further losses. The next support would be 1.2400, followed by the year-to-date at 1.2300. On the other hand, if buyers lift the spot price above 1.2500, that would open the door to challenge the 200-DMA. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2481 Today Daily Change -0.0033 Today Daily Change % -0.26 Today daily open 1.2514 Trends Daily SMA20 1.
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