Pound Sterling Price News and Forecast: Can America's cooldown send sterling above 1.40?

FXStreet Team FXStreet

GBP/USD spikes to over one-week tops, around 1.3970 on weaker NFP report

The GBP/USD pair caught some aggressive bets during the early North American session and shot to over one-week tops, around the 1.3970 region in reaction to the dismal US jobs report. The headline NFP showed that the US economy added only 266K new jobs in April as compared to consensus estimates pointing to a reading of nearly one million. Adding to this, the previous month's reading was also revised down to 770K from 916K reported previously and the unemployment rate unexpectedly edged higher to 6.1% from 6.0% in March. Read more...

GBP/USD

Overview
Today last price	1.3982
Today Daily Change	0.0091
Today Daily Change %	0.66
Today daily open	1.3891

Trends
Daily SMA20	1.3863
Daily SMA50	1.3857
Daily SMA100	1.3779
Daily SMA200	1.3445

Levels
Previous Daily High	1.3941
Previous Daily Low	1.3857
Previous Weekly High	1.3976
Previous Weekly Low	1.3803
Previous Monthly High	1.4009
Previous Monthly Low	1.3669
Daily Fibonacci 38.2%	1.3889
Daily Fibonacci 61.8%	1.3909
Daily Pivot Point S1	1.3852
Daily Pivot Point S2	1.3813
Daily Pivot Point S3	1.3768
Daily Pivot Point R1	1.3935
Daily Pivot Point R2	1.398
Daily Pivot Point R3	1.4019

GBP/USD Weekly Forecast: Can America's cooldown send sterling above 1.40? UK GDP, US consumer eyed

GBP/USD has bounced as the BOE upgraded its outlook and horrible US jobs figures. UK GDP and US consumer figures promise another busy week in cable. Early May's daily chart shows bears are gaining some ground. Something is more than nothing – the Bank of England monetary policy tweak has pushed up the pound, while concerns about road bumps in the US economy have kept the dollar from storming the board. Can the upswing continue? Economic data has rising prominence as covid concerns fade on both sides of the pond. Read more...

GBP/USD Forecast: UK elections outweigh Nonfarm Payrolls impact and favor the bulls

GBP/USD has been drifting higher as Conservatives have come on top in a by-election. US Nonfarm Payrolls and speculation about the vote in Scotland are set to move the currency pair. Hartlepool – a place where many GBP/USD traders are unable to locate on the map – is breaking the typical pre-Nonfarm Payrolls silence. Prime Minister Boris Johnson's Conservatives have won a by-election for the Northern seat, defeating the opposition Labour Party in its heartland. Such a victory provides some political calm. Read more...

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FXStreet Team

FXStreet

EUR/USD: Gains remain capped by 1.1650

EUR/USD remains in recovery-mode following the closing bell in Euroland on Wednesday, hovering around the 1.1650 zone amid renewed downside pressure on the US Dollar and a marginal improvement in the global sentiment.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold struggles to surpass $5,200

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.