Pound Sterling Price News and Forecast: GBP/USD bulls are throwing in the towel at eight week highs

FXStreet Team FXStreet

GBP/USD bulls are throwing in the towel at eight week highs

The British Pound pulled back from the highest level against the dollar in eight weeks on Wednesday, a high made as worries about the health of the global financial system continued to ease. At the time of writing, GBP/USD is down some 0.2% after falling from a high of 1.2361 to a low of 1.2302. Read More...

GBP/USD retreats from multi-week high amid modest USD uptick, bullish potential intact

The GBP/USD pair retreats from the 1.2360 area, or its highest level since February 3 touched this Wednesday and trades with modest losses during the early North American session. Spot prices, for now, seem to have snapped a two-day winning streak, though manage to hold comfortably above the 1.2300 round-figure mark, or the daily swing low. Read More...

GBP/USD recovers a few pips from daily low, finds some support near 1.2300 mark

The GBP/USD pair comes under some selling pressure on Wednesday, snapping a two-day winning streak and eroding a part of the overnight gains to its highest level since early February. The pair drops to a fresh daily low during the first half of the European session, albeit finds some support near the 1.2300 mark and recovers a few pips in the last hour. Read More...

GBP/USD

Overview
Today last price	1.2307
Today Daily Change	-0.0035
Today Daily Change %	-0.28
Today daily open	1.2342

Trends
Daily SMA20	1.2112
Daily SMA50	1.2151
Daily SMA100	1.2108
Daily SMA200	1.1894

Levels
Previous Daily High	1.2349
Previous Daily Low	1.2281
Previous Weekly High	1.2344
Previous Weekly Low	1.2167
Previous Monthly High	1.2402
Previous Monthly Low	1.1915
Daily Fibonacci 38.2%	1.2323
Daily Fibonacci 61.8%	1.2307
Daily Pivot Point S1	1.2299
Daily Pivot Point S2	1.2256
Daily Pivot Point S3	1.2231
Daily Pivot Point R1	1.2367
Daily Pivot Point R2	1.2392
Daily Pivot Point R3	1.2435

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.

GBP/USD flirts with two-day lows near 1.3180

GBP/USD remains on the back foot in the latter part of Tuesday’s session, sliding to the sub-1.3200 area and challenging weekly lows. Cable’s decline comes as investors assess the political uncertainty in the UK, coupled with softer-than-expected UK PMI data and the better tone in the Greenback.

EUR/USD weakens below 1.1400 on stronger Dollar

EUR/USD adds to Monday’s losses and recedes below the 1.1400 support to clinch fresh 13-month lows in the latter part of Tuesday’s NA session. The pair’s marked sell-off comes on the back of the persistent move higher in th US Dollar, always propped up by rising bets of further tightening by the Fed.

Gold appears supported near $4,100 for now

Gold rapidly reverses Monday's bounce and is trading sharply lower on Tuesday. The yellow metal, however, manages well to keep business above the $4,100 mark per troy ounce despite a firmer US Dollar and expectations that the Fed will keep rates higher for longer.

Bittensor and Near Protocol Outlook: AI-linked tokens face deeper sell-off

The cryptocurrency market trades amid increasing sell-side pressure on Tuesday, reflecting a broader deterioration in sentiment and appetite for risk assets. Artificial Intelligence (AI)-linked tokens such as Bittensor (TAO) and Near Protocol (NEAR) exhibit both fundamental and technical weaknesses, trading at $217 and $1.99, respectively.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.