GBP/USD analysis: Pound lifeless ahead of BOE's Super Thursday

Valeria Bednarik FXStreet

GBP/USD Current price: 1.3127

GBP/USD moving exclusively on dollar's weakness/strength.
UK Markit Manufacturing PMI seen at 54.2 in July from 54.4 in June.

The Sterling Pound had little life of its own, with the GBP/USD pair being exclusively driven by intraday dollar's weakness/strength. The pair surged to a daily high of 1.3172 but pulled down to 1.3089 on the sudden run toward the greenback, to finally settle in the 1.3130 region. There were no macroeconomic headlines coming from the UK, although during the upcoming Asian session, the kingdom will release the BRC Shop Price Index for July, while later in the day, Nationwide Housing Prices will be out, and more relevant, July Markit Manufacturing PMI. This last is expected to come in at 54.2 from the previous 54.4, although reaction to UK data could be limited ahead of the outcome of Fed's meeting later in the US afternoon. The pair presents a neutral stance in the short-term and according to the 4 hours chart, as its currently hovering around a bearish 20 SMA, unable to move far from it, while developing well below the 200 EMA. Technical indicators have retreated within positive territory now struggling with their midlines and with no directional strength. The GBP/USD pair may continue to range ahead of BOE's Super Thursday when Carney & Co. should decide whether or not to hike rates.

Support levels: 1.3090 1.3045 1.3010

Resistance levels: 1.3150 1.3190 1.3230

View Live Chart for the GBP/USD

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.