Pound Sterling Price News and Forecast: GBP/USD attracts some buyers for the third successive day

FXStreet Team FXStreet

GBP/USD Price Analysis: Seems poised to appreciate further, awaits UK Retail Sales data

The GBP/USD pair ticks higher for the third successive day on Friday and looks to build on this week's goodish bounce from sub-1.2600 levels, or its lowest level since December 13. Spot prices currently trade just above the 1.2700 round figure, flirting with the 200-hour Simple Moving Average (SMA).

Investors trimmed their bets for an early interest rate cut by the Bank of England (BoE) after the UK Office for National Statistics (ONS) reported on Wednesday that the Consumer Price Index (CPI) rose for the first time in 10 months. This continues to underpin the British Pound (GBP), which, along with subdued US Dollar (USD) price action, acts as a tailwind for the GBP/USD pair. Read more...

GBP/USD holds above the 1.2700 mark ahead of UK Retail Sales, Michigan sentiment data

The GBP/USD pair trades firm for the third consecutive day during the early Asian session on Friday. The uptick in the major pair is bolstered by the upbeat UK inflation data and the risk-on mood. Investors await the UK Retail Sales report on Friday for fresh impetus, which is estimated to show a decline of 0.5% MoM in December from a 1.3% rise in November. GBP/USD currently trades near 1.2708, up 0.08% on the day.

The annual rate of the UK Consumer Price Index (CPI) rose to 4.0% YoY from 3.9% in November, undermining market expectations of an early rate cut by the Bank of England (BoE). This figure marked the first acceleration in ten months. The former BoE policymaker, Michael Saunders, said that he did not think the latest data contradicted the broader underlying decline in inflation. Read more...

GBP/USD

Overview
Today last price	1.271
Today Daily Change	0.0011
Today Daily Change %	0.09
Today daily open	1.2699

Trends
Daily SMA20	1.2713
Daily SMA50	1.2628
Daily SMA100	1.2452
Daily SMA200	1.255

Levels
Previous Daily High	1.2704
Previous Daily Low	1.2648
Previous Weekly High	1.2786
Previous Weekly Low	1.2674
Previous Monthly High	1.2828
Previous Monthly Low	1.2501
Daily Fibonacci 38.2%	1.2683
Daily Fibonacci 61.8%	1.267
Daily Pivot Point S1	1.2664
Daily Pivot Point S2	1.2628
Daily Pivot Point S3	1.2608
Daily Pivot Point R1	1.2719
Daily Pivot Point R2	1.2739
Daily Pivot Point R3	1.2775

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD turns lower toward 0.7000 after mixed Australian jobs data

AUD/USD is losing ground toward 0.7000 in the Asian session on Thursday, following the release of the Australian August jobs report, which showed that the Unemployment Rate rose to 4.6% versus 4.5% expected, while Employment Change beat estimates, arriving at 39.5K. Traders also remain unnerved ahead of the critical Trump-Xi meeting.

USD/JPY keeps the red near 158.00 as Japanese Yen firms up

USD/JPY retreats from three-week highs and holds losses near 158.00 in the Asian session on Thursday. Surging Japanese bond yields lift the Yen amid looming intervention risks, while the US Dollar preserves overnight gains to a two-month high amid hawkish Fed bets and elevated US bond yields.

Gold struggles near one-week low as traders await Trump-Xi meeting amid Fed hike bets

Gold sticks to a negative bias for the second straight day, trading below the $4,300 mark or a one-week low during the first half of the European session as traders await a crucial meeting between US President Donald Trump and his Chinese counterpart Xi Jinping. Expectations for a major announcement are low, though market players will look for any progress on rare earths, technology restrictions, and an extension of the current US-China truce.

Bitcoin slips to $84,000 on rate hike bets – Worldcoin, Pepe lead losses

Bitcoin (BTC) price trades below $84,000 on Thursday, extending losses after a 2% decline the previous day. The pullback aligns with renewed inflation and rate-hike concerns, as US composite and services PMIs rose to 58.4 and 58.7 in September. Worldcoin (WLD) and Pepe (PEPE) recorded double-digit losses over the last 24 hours, emerging as the worst performers.

SNB leaves interest rates unchanged at 0%

Swiss National Bank leaves its key policy rates unchanged at 0%, as expected by market particiapnts. The key highlights of SNB’s monetary policy assessment are as followed: Banks' sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold. SNB sees 2026 inflation at 0.7% (previous forecast was for 0.6%). The main risk to the economic outlook for Switzerland stems from developments in the global economy.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.