|

GBP/USD stays firm against US Dollar on quieter market conditions

  • GBP/USD edges up to 1.2632, navigating through thin liquidity and a light economic calendar on both sides of the Atlantic.
  • US Durable Goods Orders exceed expectations, while consumer concerns over inflation temper consumer confidence.
  • Market focus on Fed Governor Waller's upcoming speech and core PCE inflation data for potential rate cut insights.

The Pound Sterling clings to gains of 0.05% against the US Dollar after hitting a daily low of 1.2605. Thin liquidity conditions prevail in the financial markets amid a shortened week in observance of Good Friday. At the time of writing, the GBP/USD trades at 1.2632.

GBP/USD maintains slight gains in subdued trading, with investors awaiting key speeches and inflation data

The economic docket on both sides of the Atlantic remains scarce, though the latest data from the United States (US) witnessed Durable Goods Orders rising 1.4% in February, above estimates of 1.1%. Other data showed that US consumer confidence missed estimates of 107, coming at 104.7 in March. Dana M. Peterson, Chief Economist at The Conference Board, commented, “Consumers remained concerned with elevated price levels, which predominated write-in responses.”

Later, the Fed Governor Christopher Waller is expected to cross newswires at around 22:00 GMT. In Waller’s last speech, he said the Fed is in no rush to cut rates, which has sponsored a repricing of a less dovish Fed, as shown by the CME FedWatch Tool. Money markets see 70% odds for a 25 basis points interest rate cut by the Fed in June.

Aside from this, GBP/USD traders are eyeing the release  of the Fed’s preferred measure of inflation, the Core Personal Consumption Expenditure (PCE) price index. If inflation edges lower, that could fuel rate cut speculations of the Fed, but the figures must be taken with a pinch of salt as Fed Chair Jerome Powell would speak at 15:30 GMT.

Across the pond, traders are eyeing the release of the latest Gross Domestic Product (GDP) figures for Q4 on Thursday, along wth the Current Account numbers for the same period.

GBP/USD Price Analysis: Technical outlook

The GBP/USD pair has printed back-to-back spinning tops candles, suggesting indecision amongst investors. On the upside, the 100-day moving average (DMA) at 1.2639 caps the rallies of the Sterling, while the 200-DMA at 1.2589 acts as strong dynamic support for buyers. For a bullish resumption, a breach of the 100-DMA could expose the 50-DMA at 1.2678 before testing 1.2700. On the flip side, if sellers reclaim 1.2600 and the 200-DMA, look for a test of 1.2505, the November 14 high turned support.

GBP/USD

Overview
Today last price1.2632
Today Daily Change0.0004
Today Daily Change %0.03
Today daily open1.2628
 
Trends
Daily SMA201.272
Daily SMA501.268
Daily SMA1001.2645
Daily SMA2001.2591
 
Levels
Previous Daily High1.2668
Previous Daily Low1.2622
Previous Weekly High1.2804
Previous Weekly Low1.2575
Previous Monthly High1.2773
Previous Monthly Low1.2518
Daily Fibonacci 38.2%1.264
Daily Fibonacci 61.8%1.2651
Daily Pivot Point S11.2611
Daily Pivot Point S21.2594
Daily Pivot Point S31.2565
Daily Pivot Point R11.2657
Daily Pivot Point R21.2686
Daily Pivot Point R31.2703

Author

Christian Borjon Valencia

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

More from Christian Borjon Valencia
Share:

Editor's Picks

AUD/USD seems vulnerable near 0.6800, 10-month low amid bullish USD

AUD/USD languishes near a 10-month low during the Asian session on Friday, awaiting a break below 0.6800 before the next leg up amid a bullish US Dollar. Firming Fed rate-hike expectations, along with fading hopes for US-Iran diplomacy, help the USD hold gains at its highest level since April 2025. Moreover, the RBA’s dovish tilt undermines the Aussie and backs the case for further losses.

USD/JPY bulls turn cautious near 160.00 amid intervention risks

USD/JPY enters a bullish consolidation phase around its highest level since early September as bulls turn cautious amid intervention risk near 160.00. Meanwhile, the downside seems cushioned as the wide US-Japan interest rate gap keeps the Yen carry trade active. Furthermore, the possibility of a jumbo Fed rate hike and Middle East uncertainties hold the US Dollar near a 19-month top, supporting the currency pair.



Gold finds temporary floor near $3,850, downside risks persist

Gold rises almost 0.9% to near $3,915 in the early trade on Friday after posting a fresh 13-month low near $3,850 the previous day. The recovery move in the Gold price after a massive decline in the past few days started Tuesday appears to be short-lived as several headwinds are boosting bears to keep up the dominance.

Bitcoin slips below $70,000 for the first time since August

Bitcoin is attracting some serious sellers, pushing it below $70,000 on Friday after an over 3% decline the previous day. The Crypto King is down over 5% so far this week, and a bearish close could mark its sixth consecutive week of losses. The technical outlook for Bitcoin is bearish, with sellers tightening their grip despite overextending the downtrend to oversold levels.

Asian stocks post mixed results amid Nvidia leadership turmoil, Anthropic IPO buzz
Asian stocks post mixed results on Friday, with Japan’s Nikkei 225 Index climbing 0.91% to around 61,370 and China’s Shanghai Composite rising 0.22% to 3,660. Conversely, Hong Kong’s Hang Seng Index fell 0.82% to 23,810, while South Korea’s KOSPI declined 0.49% to near 5,320.
What the US CPI headline doesn’t tell you about inflation

Brent crude has fallen about a third since mid-October on hopes the Iran war is ending, but diesel, freight and fertiliser costs haven't followed. Those costs reach US consumer prices in stages through 2027 and could keep inflation high after gasoline gets cheaper.