GBP/USD Price Analysis: Drops below the 100-DMA as bears eye 1.2000

GBP/USD Price Analysis: Drops below the 100-DMA as bears eye 1.2000

From fxstreet.com

The Pound Sterling (GBP) capped its fall against the US Dollar (USD) on Monday at around the 100-day Exponential Moving Average (EMA) at 1.2028, though the GBP/USD remains below the latter. That said, a GBP/USD daily close would keep bears hopeful of testing the 1.2000 figure. At the time of writing, the GBP/USD hovers around 1.2024 after hitting a daily high of 1.2077. Since last Thursday, after the Bank of England (BoE) raised rates by 50 bps, lifting the Bank Rate to 4%, the GBP/USD collapsed by 1.20%. Then it was followed by last Friday’s US jobs data, which exerted downward pressure, sending the GBP/USD into a ... (full story)

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