Pound Sterling Price News and Forecast: GBP/USD holds position above the psychological support level at 1.2400
|GBP/USD Price Analysis: Maintains position above 1.2400 supported by nine-day EMA
GBP/USD looks to extend its losses for the third consecutive day ahead of the Retail Sales data from the United Kingdom, trading around 1.2410 during the Asian session on Friday. The 1.2400 psychological level serves as immediate support, followed by the next support around 1.2350, which is aligned with the nine-day Exponential Moving Average (EMA) at the 1.2353 level.
A break below the latter could further weigh on the GBP/USD pair, potentially navigating toward the region around the psychological level at 1.2300, in conjunction with the 21-day EMA at 1.2295. Read more...
GBP/USD hovers above 1.2400 ahead of UK Retail Sales
GBP/USD moves sideways with a negative tone near 1.2410 during the Asian hours on Friday. The US Dollar (USD) receives upward support despite the upbeat jobless claims data from the United States (US) and a decline in the US Treasury yields.
US Continuing Jobless Claims for the week ending on November 3 increased to the highest level since 2022 at 1.865 million, compared to the previous reading of 1.833 million. Additionally, Initial Jobless Claims for the week ending on November 10 rose to 231,000, exceeding the expected 220,000, and marking the highest level in nearly three months. Read more...
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