GBP/USD keeps a mild bid tone, aiming for 1.2685

Guillermo Alcala FXStreet

The Pound picks up with the USD weighed by a mild risk appetite.
Investors are looking from the sidelines ahead of Wednesday’s US CPI data.
GBP/USD’s broader trend remains bearish while below the 1.2685 resistance

The Sterling has opened the week on a slightly bullish tone. A somewhat softer US Dollar amid the moderate risk appetite has allowed the pair to extend its recovery from post-NFP lows, returning to the mid-range of the 1.2600s.

The Positive market sentiment is weighing on the US Dollar, yet downside attempts are likely to remain limited. Investors are expected to keep a cautious tone ahead of the release of the US Consumer Prices Index data on Wednesday.

On Friday, the unexpectedly strong US Nonfarm Payrolls confirmed the strong momentum of the US economy and cast further doubt on a Fed rate cut in June. In this context, another positive surprise on Wednesday might give a fresh impulse to the US Dollar.

From a technical perspective, the pair is trading lower from early March highs. Resistance at 1.2680 is a key level to ease bearish pressure and aim for 1.2750, the 61.8% Fibonacci extension of the March selloff. Supports are 1.2575 and 1.2535.

GBP/USD

Overview
Today last price	1.2647
Today Daily Change	0.0009
Today Daily Change %	0.07
Today daily open	1.2638

Trends
Daily SMA20	1.268
Daily SMA50	1.2667
Daily SMA100	1.2667
Daily SMA200	1.2588

Levels
Previous Daily High	1.2649
Previous Daily Low	1.2575
Previous Weekly High	1.2684
Previous Weekly Low	1.2539
Previous Monthly High	1.2894
Previous Monthly Low	1.2575
Daily Fibonacci 38.2%	1.2603
Daily Fibonacci 61.8%	1.262
Daily Pivot Point S1	1.2592
Daily Pivot Point S2	1.2547
Daily Pivot Point S3	1.2518
Daily Pivot Point R1	1.2666
Daily Pivot Point R2	1.2694
Daily Pivot Point R3	1.274

Author

Guillermo Alcala

FXStreet

Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.

EUR/USD holds above 1.1800 after US data

EUR/USD alternates gains with losses in the low-1.1800s on Wednesday in a context of modest gains in the Greenback. Meanwhile investors continue to assess the latest advanced inflation data in the euro area and the lower-than-expected weekly ADP figures and ISM Services PMI on the US calendar.

GBP/USD declines below 1.3700 as USD gains traction

GBP/USD comes under bearish pressure in the American session and trades in the red below 1.3700. The US Dollar gathers strength after the latest batch of US data and makes it difficult for the pair to hold its ground. On Thursday, the Bank of England will announce policy decisions.

Gold retreats below $5,000 following earlier rally

Gold loses its bullish momentum and trades below $5,000 in the second half of the day on Wednesday as the US Dollar finds a foothold. The data from the US showed that private sector employment rose less than expected in January, while the service sector preserved its growth momentum.

Crypto Today: Bitcoin, Ethereum, XRP tick up despite macro uncertainty, retail exodus

Bitcoin rises above $76,000 following an extended decline to $72,946 the previous day as Fed-related headlines keep investors on edge. Ethereum advances toward the $2,300 hurdle amid low retail interest, with futures Open Interest falling to $26.3 billion.

Should investors abandon AI as software stocks slide?

AI is not being abandoned by markets. It is being priced more carefully. Over the past few weeks, the underperformance of software and SaaS stocks has sparked a familiar question: is the AI trade breaking down? The answer is no.

Ripple stabilizes amid mixed signals as ETF inflows resume despite low retail activity

Ripple hovers around the $1.60 pivotal level at the time of writing on Wednesday, reflecting stable but weak sentiment across the crypto market. Intense volatility triggered a brief sell-off on Tuesday, driving the remittance token to pick up liquidity at $1.53 before recovering to the current level.