
British Pound Short-term Outlook: GBP/USD Selloff Breaks June Uptrend
Sterling has slipped below its 200-day moving average as downside momentum carries GBP/USD toward another major technical support zone.
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Sterling has slipped below its 200-day moving average as downside momentum carries GBP/USD toward another major technical support zone.

Sterling selling has intensified after the September range broke lower, with GBP/USD now confronting a major Fibonacci support zone.

GBP/USD is locked within a tight technical range, with the Fed and BoE decisions poised to provide the catalyst for the next major move.

The Sterling rally remains firmly intact, but stretched momentum is raising the risk of a near-term inflection as the bulls test resistance.

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The British pound has been used as England’s central currency for over a thousand years. Read about its evolution from a coin literally weighing one pound to the banknotes common today. We also rank the next three oldest major currencies: the yen, ruble and dollar.