GBP/USD rallies into upper 1.2500s amid pre-month-end buck profit-taking


  • GBP/USD has rebounded about 1.0% into the upper 1.2500s amid pre-month-end selling pressure in the US dollar.  
  • Focus now turns to next week’s Fed and BoE meetings, which could pose downside risks to the pair.
  • GBP/USD rallies, for now, may remain vulnerable to being sold.

Pre-month-end profit-taking in the US dollar, which has up until this point been on a rampage higher in recent weeks against most of its major counterparts, is being attributed as the main factor giving GBP/USD a lift on Friday. The pair was last trading in the 1.2575 region, up about 1.0% on the day and over 1.3% higher versus Thursday’s intra-day lows at 1.2410.

But the pair’s latest rebound comes as little consolation for the deflated GBP/USD bulls, with cable still set to end the week with losses of about 2.0% and the month with losses of about 4.25%. That would mark GBP/USD’s joint-worst one-month performance since July 2019.

Upcoming US Core PCE inflation data for March at 1330BST will be of interest and is likely to reaffirm the scale of the inflation problem currently plaguing the US economy. Focus then turns to next week’s Fed and BoE meetings which, a cursory examination of which would seem to imply downside risks for GBP/USD.

After all, the Fed seems increasingly tilting towards the need to take rates above so-called neutral to control inflation, which the BoE has been coming across as more concerns about weak UK growth as of late, seemingly weakening their resolve to tighten. As a result, any further GBP/USD rebound might well be viewed as a good opportunity to sell. Resistance in the 1.2675 area looks may attract particular attention from the bears.

GBP/Usd

Overview
Today last price 1.2583
Today Daily Change 0.0127
Today Daily Change % 1.02
Today daily open 1.2456
 
Trends
Daily SMA20 1.2951
Daily SMA50 1.3127
Daily SMA100 1.3308
Daily SMA200 1.3479
 
Levels
Previous Daily High 1.257
Previous Daily Low 1.2411
Previous Weekly High 1.309
Previous Weekly Low 1.2823
Previous Monthly High 1.3438
Previous Monthly Low 1.3
Daily Fibonacci 38.2% 1.2472
Daily Fibonacci 61.8% 1.2509
Daily Pivot Point S1 1.2388
Daily Pivot Point S2 1.232
Daily Pivot Point S3 1.223
Daily Pivot Point R1 1.2547
Daily Pivot Point R2 1.2638
Daily Pivot Point R3 1.2706

 

 

Share: Feed news

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended content

Editors’ Picks

AUD/USD: Door open to extra losses

AUD/USD: Door open to extra losses

AUD/USD remained on the back foot on Tuesday, down for the third day in a row and retreating to five-day lows near the key 0.6500 support, always amid the resurgence of the strong demand for the US Dollar, this time underpinned by higher US inflation readings in June.

EUR/USD: Further weakness could extend to 1.1460

EUR/USD: Further weakness could extend to 1.1460

On Tuesday, the EUR/USD resumed its negative trend by falling below the crucial support at 1.1600 the figure and reaching fresh three-week lows against the background of a stronger Greenback. So far in July, the pair has only closed higher on two occasions.

Gold's selling pressure picks up pace, focus on $3,320

Gold's selling pressure picks up pace, focus on $3,320

Gold prices now lose the grip and prompt the precious metal to retreat to daily troughs near the $3,320 mark per troy ounce. The increasing selling pressure around the yellow metal comes in response to a stronger US Dollar, rising US yields across the curcve, and the idea that the Fed might remain cautious for longer.

Ripple Prediction: XRP eyes breakout past $3.00 amid 'Crypto Week'

Ripple Prediction: XRP eyes breakout past $3.00 amid 'Crypto Week'

Ripple (XRP) drops below $3.00 on Tuesday, exchanging hands at $2.87 during the American session. The volatility follows XRP's rally, which tagged a weekly high of $3.03 the previous day, reflecting investors' desire to de-risk in the broader cryptocurrency market.

China’s first-half growth remains on track, though activity data signals caution

China’s first-half growth remains on track, though activity data signals caution

China's second-quarter GDP beat forecasts again with a 5.2% year-on-year growth, driven by strong trade and industrial production. Yet sharper-than-expected slowdowns in fixed-asset investment and retail sales and falling property prices are a concern.

Best Brokers for EUR/USD Trading

Best Brokers for EUR/USD Trading

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025