GBP/USD attracts some buyers near 1.2700, US PCE data looms

GBP trades in a positive territory for the third consecutive week under 1.2700.
US economy grew to 5.2% in Q3 from the previous reading of 4.9%, above the market consensus of 5.0%.
BoE Governor Bailey said the central bank will do what it takes to bring inflation down to its 2% target.
US Core PCE inflation data will be closely monitored by traders.

Lallalit Srijandorn FXStreet

The GBP/USD pair attracts some buyers below the 1.2700 psychological mark during the early Asian session on Thursday. That being said, the softer US Dollar (USD) offers some support to the major pair. At press time, GBP/USD is trading near 1.2695, up 0.02% on the day.

The US Bureau of Economic Analysis (BEA) revealed on Thursday that the US economy grew to 5.2% in the third quarter (Q3) from the previous reading of 4.9%, above the market consensus of 5.0%. Federal Reserve (Fed) Governor Michelle Bowman said he sought to keep alive the possibility of more rate hikes, raising concerns about the longevity of inflationary pressure. Earlier this week, Fed Governor Christopher Waller stated that the Fed does not need to hike rates further from here.

Despite the mixed labor market and cooling inflation, investors will take more cues from the Core Personal Consumption Expenditure Price Index (PCE) for October. The monthly and annual Core PCE are expected to ease to 0.2% and 3.5%, respectively. These figures could convince the Fed of the coming Fed decisions.

On the UK’s front, Bank of England (BoE) Governor Andrew Bailey said on Wednesday that the central bank will do what it takes to bring inflation down to its 2% target, adding that the central bank has not seen the progress yet to be confident.

Looking ahead, traders will closely monitor the Core PCE inflation data, due later on Thursday. Additionally, the US weekly Jobless Claims, the Chicago PMI, and Pending Home Sales will be released. In the absence of top-tier economic data released from the UK docket, the GBP/USD pair remains at the mercy of USD price dynamics.

GBP/USD

Overview
Today last price	1.2696
Today Daily Change	0.0003
Today Daily Change %	0.02
Today daily open	1.2693

Trends
Daily SMA20	1.2435
Daily SMA50	1.2282
Daily SMA100	1.2491
Daily SMA200	1.2465

Levels
Previous Daily High	1.2733
Previous Daily Low	1.2665
Previous Weekly High	1.2616
Previous Weekly Low	1.2446
Previous Monthly High	1.2337
Previous Monthly Low	1.2037
Daily Fibonacci 38.2%	1.2691
Daily Fibonacci 61.8%	1.2707
Daily Pivot Point S1	1.2661
Daily Pivot Point S2	1.2629
Daily Pivot Point S3	1.2592
Daily Pivot Point R1	1.2729
Daily Pivot Point R2	1.2766
Daily Pivot Point R3	1.2798

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.