Pound Sterling Price News and Forecast: GBP/USD advances against US Dollar


Pound Sterling advances against US Dollar as investors trim Trump trades

The Pound Sterling (GBP) refreshes a two-week high near 1.2750 against the US Dollar (USD) in Friday’s European session. The GBP/USD pair strengthens as the US Dollar extends this week’s decline in a thin volume trading day due to the Thanksgiving holidays. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, corrects further and posts a fresh more than two-week low near 105.60.

The US Dollar is on course to end the week with a near 1.5% decline. The correction in the US Dollar started on Monday after United States (US) President-elect Donald Trump nominated seasoned hedge fund manager Scott Bessent to fill the position of Treasury Secretary. Read more...

Chart

GBP/USD Forecast: Pound Sterling rises above key level, attracts bulls

After posting small gains on Thursday, GBP/USD gathered bullish momentum and climbed to its highest level in over two weeks at 1.2750 early Friday. 

Following the Thanksgiving Day holiday in the US, the US Dollar (USD) came under renewed selling pressure amid a positive shift seen in risk mood in the Asian session and helped GBP/USD gain traction. Additionally, US Treasury bond yields continued to stretch lower, making it difficult for the USD to find a foothold. Read more...

GBPUSD

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

Bitcoin price breaks above the $100K milestone

Bitcoin price breaks above the $100K milestone

Bitcoin's price surpassed the $100K mark on Thursday after its recent pullback last week.The momentum indicator, the Relative Strength Index, indicates a continuation of the uptrend, while the technical outlook suggests a rally toward $113K.

Read more
EUR/USD holds above 1.0500 despite weak EU data

EUR/USD holds above 1.0500 despite weak EU data

EUR/USD stays in positive territory above 1.0500 in the European session on Thursday even after the data from the Euro area showed that Retail Sales declined by 0.5% on a monthly basis in October. Market focus shifts to mid-tier US data releases.

EUR/USD News
GBP/USD rise further above 1.2700 amid weaker US Dollar

GBP/USD rise further above 1.2700 amid weaker US Dollar

GBP/USD trades with a positive bias for the third straight day and rises further above the 1.2700 mark in the European session on Thursday. The pair takes advantage of the sustained US Dollar weakness and mild risk appetite heading into the US data releases later in the day. 

GBP/USD News
Gold price struggles for a firm near-term direction as traders keenly await US NFP report

Gold price struggles for a firm near-term direction as traders keenly await US NFP report

Gold price extends its consolidative price move amid mixed fundamental cues. Geopolitical risks and trade war fears offer support to the safe-haven XAU/USD. Less dovish Fed expectations and rebounding US bond yields act as a headwind. 

Gold News
GBP/USD rise further above 1.2700 amid weaker US Dollar

GBP/USD rise further above 1.2700 amid weaker US Dollar

GBP/USD trades with a positive bias for the third straight day and rises further above the 1.2700 mark in the European session on Thursday. The pair takes advantage of the sustained US Dollar weakness and mild risk appetite heading into the US data releases later in the day. 

GBP/USD News
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures