Pound Sterling Price News and Forecast: GBP/USD briefly saw a ten-week high after UK PMIs beat the street

FXStreet Team FXStreet

GBP/USD hung up near 1.2540 after Thursday spike into 1.2575

The GBP/USD is trading tightly near 1.2540 after seeing a brief tip into a ten-week high on a surprise upside beat in UK Purchasing Managers' Index (PMI) figures early Thursday.

The pair spent the back half of the trading day trading into the middle with money markets seeing a severe decline in overall liquidity and volume with US market shuttered for the day for the US Thanksgiving holiday. Read more...

GBP/USD hits ten-week high due to positive UK PMIs

The Pound Sterling (GBP) gets some relief and advances against the US Dollar (USD) in thin trading due to US markets being closed during Thanksgiving. Nevertheless, the GBP/USD has risen to a ten-week high and trades above the 1.2500 figure for the fourth consecutive day.

GBP/USD’s advance is courtesy of positive economic data in the UK. Business activity in the UK recovered some ground, as S&P Global revealed that Services and the Composite PMIs expanded after staying at contractionary territory after three months of contraction. Although the Manufacturing PMI remained below the 50 thresholds of contraction/expansion, it grew from 44.8 to 46.7, exceeding forecasts of 45. Read more...

GBP/USD

Overview
Today last price	1.2535
Today Daily Change	0.0039
Today Daily Change %	0.31
Today daily open	1.2496

Trends
Daily SMA20	1.2313
Daily SMA50	1.2257
Daily SMA100	1.2503
Daily SMA200	1.245

Levels
Previous Daily High	1.255
Previous Daily Low	1.2449
Previous Weekly High	1.2506
Previous Weekly Low	1.2213
Previous Monthly High	1.2337
Previous Monthly Low	1.2037
Daily Fibonacci 38.2%	1.2488
Daily Fibonacci 61.8%	1.2511
Daily Pivot Point S1	1.2447
Daily Pivot Point S2	1.2398
Daily Pivot Point S3	1.2346
Daily Pivot Point R1	1.2547
Daily Pivot Point R2	1.2598
Daily Pivot Point R3	1.2647

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.

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