Pound Sterling Price News and Forecast: GBP/USD: Bears are waiting to pounce below 1.2800


GBP/USD Price Analysis: Bears are waiting to pounce below 1.2800

GBP has been the market's darling this week so far as the initial balance extends higher and higher. However, as the following charts illustrate, there could be a turnaround on the cards soon. Read More...

Pound Sterling recovers as more interest rate hikes remain favored

The Pound Sterling (GBP) is looking for a break above the immediate resistance as the United Kingdom’s government looking beyond monetary tools to bring down stubborn inflation. The recovery in the GBP/USD pair has faded as the adaptation of new fiscal measures such as cutting wages of public sector employees by the British administration are losing their impact. The British government also asked companies to bring down profit margins to tame sticky inflation, which might help trim fears of a bleak economic outlook. Read More...

GBP/USD

Overview
Today last price 1.2752
Today Daily Change 0.0039
Today Daily Change % 0.31
Today daily open 1.2713
 
Trends
Daily SMA20 1.2608
Daily SMA50 1.253
Daily SMA100 1.2355
Daily SMA200 1.2082
 
Levels
Previous Daily High 1.2749
Previous Daily Low 1.2688
Previous Weekly High 1.2845
Previous Weekly Low 1.2685
Previous Monthly High 1.268
Previous Monthly Low 1.2308
Daily Fibonacci 38.2% 1.2711
Daily Fibonacci 61.8% 1.2726
Daily Pivot Point S1 1.2684
Daily Pivot Point S2 1.2656
Daily Pivot Point S3 1.2624
Daily Pivot Point R1 1.2745
Daily Pivot Point R2 1.2777
Daily Pivot Point R3 1.2806

 

 

GBP/USD Price Analysis: Volatility contracts above 1.2700 despite cheerful market mood

The GBP/USD pair is trading back and forth in a narrow range of 1.2700-1.2750 in the early London session. The upside in the Cable is restricted as higher inflationary pressures in the United Kingdom have dampened its economic outlook while the downside is supported due to correction in the US Dollar Index (DXY). Read More...
 
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

AUD/USD surges above 0.6600 on soft US jobless claims

AUD/USD surges above 0.6600 on soft US jobless claims

The Australian Dollar rallied against the US Dollar on Thursday, printed gains of more than 0.60%, due to the Greenback remained offered following a softer than expected US jobs report. The AUD/USD trades back above the 0.6600 threshold as Friday’s Asian session begins.

AUD/USD News

EUR/USD climbs over 1.0780 on broad-market risk appetite recovery

EUR/USD climbs over 1.0780 on broad-market risk appetite recovery

EUR/USD gained ground on Thursday, finding upside on the week after the US Dollar broadly fell back after rising US Initial Jobless Claims sparked renewed hope of rate cuts from the Federal Reserve.

EUR/USD News

Gold marches higher as weak jobless claims, increase Fed rate cut speculation

Gold marches higher as weak jobless claims, increase Fed rate cut speculation

Gold price resumed its uptrend on Thursday and climbed more than 1% as US Treasury yields dropped, undermining the Greenback's appetite. Labor market data from the United States was softer, increasing the chances for a rate cut by the Federal Reserve despite dealing with inflationary pressure.

Gold News

Ethereum waiting on a bullish trigger, Consensys CEO takes a jab at the SEC

Ethereum waiting on a bullish trigger, Consensys CEO takes a jab at the SEC

Ethereum co-founder alleges that the SEC aims to stifle innovation through its enforcement actions against Ethereum-related companies. Grayscale CEO says he's optimistic the SEC would approve its spot ETH ETF application.

Read more

Dow Jones Industrial Average gains 330 points as investors celebrate rising unemployment claims

Dow Jones Industrial Average gains 330 points as investors celebrate rising unemployment claims

The Dow Jones Industrial Average (DJIA) found further gains on Thursday as investors bet on Fed rate cuts to come after US Initial Jobless Claims rose to a multi-month high. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures