Pound Sterling Price News and Forecast: GBP/USD – Bulls try to keep Pound Sterling above key support [Video]

FXStreet Team FXStreet

GBP/USD meets 1.2500 after hitting 11-month high [Video]

GBPUSD is retreating after the climb towards a new eleven-month high of 1.2585 in the previous week and is finding significant support near the 20-day simple moving average (SMA). Currently, the market remains well above the long-term uptrend line, indicating more gains. The MACD oscillator is moving sideways in the positive territory, while the RSI is ticking marginally higher above the neutral threshold of 50. Read more ...

GBP/USD Forecast: Bulls try to keep Pound Sterling above key support

GBP/USD seems to have stabilized at around 1.2500 early Tuesday after having stage a deep downward correction on Monday. The pair's near-term technical outlook fails to provide a directional clue but buyers could remain interested in Pound Sterling as long as 1.2480 support holds.

Following a quiet European session on Monday, the US Dollar (USD) gathered strength against its rivals as the US Treasury bond yields started to push higher ahead of this week's highly-anticipated Federal Reserve policy meeting. With the benchmark 10-year US T-bond yield rising more than 4% and reclaiming 3.5%, the US Dollar Index advanced to the 102.00 area. Read more ...

GBP/USD trades with modest losses below 1.2500 mark, downside potential seems limited

The GBP/USD pair turns lower for the second successive day on Tuesday and weakens further below the 1.2500 psychological mark during the first half of the European session.

The US Dollar (USD) attracts some dip-buying and stands tall near a two-week high touched on Monday, which, in turn, is seen as a key factor exerting downward pressure on the GBP/USD pair. Expectations that the Federal Reserve (Fed) will hike interest rates by 25 bps at the end of the two-day FOMC policy meeting on Wednesday led to the overnight rise in the US Treasury bond yields. Apart from this, a softer risk tone - amid looming recession risks - lends additional support to the safe-haven Greenback. Read more ...

GBP/USD

Overview
Today last price	1.248
Today Daily Change	-0.0016
Today Daily Change %	-0.13
Today daily open	1.2496

Trends
Daily SMA20	1.2455
Daily SMA50	1.226
Daily SMA100	1.2214
Daily SMA200	1.1942

Levels
Previous Daily High	1.2571
Previous Daily Low	1.2481
Previous Weekly High	1.2584
Previous Weekly Low	1.2387
Previous Monthly High	1.2584
Previous Monthly Low	1.2275
Daily Fibonacci 38.2%	1.2515
Daily Fibonacci 61.8%	1.2536
Daily Pivot Point S1	1.2461
Daily Pivot Point S2	1.2426
Daily Pivot Point S3	1.2371
Daily Pivot Point R1	1.2551
Daily Pivot Point R2	1.2606
Daily Pivot Point R3	1.2642

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 off highs, back to 1.3620

GBP/USD remains slightly on the defensive at the end of the week, receding to the low 1.3600s after hitting fresh tops past 1.3670 earlier in the day. Cable’s correction comes after two daily gains in a row and amid a tepid advance in the Greenback, while poor UK data also accompany the downside.

EUR/USD treads water below 1.1700

EUR/USD now trades with modest losses around 1.1670 following another unsuccessful atempt to advance past 1.1700 the figure in a convincing fashion. The pair’s decline follows a maginal rebound in the US Dollar as market participants continue to assess recent US data as well as developments from the US bond market.

Gold trims gains, recedes to the sub-$4,600 area

Gold rapidly leaves behind Thursday’s inconclusive price action and advances markedly on Friday, briefly surpassing the $4,600 mark per troy ounce to hit three-month peaks. Meanwhile, the precious metal’s solid performance comes despite marginal gains in the buck coupled with another day of rising US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP bulls accelerate rally amid rising ETF inflows

The cryptocurrency market remains bullish on Friday, led by Bitcoin’s surge above $77,000. Altcoins, including Ethereum and Ripple, mirror BTC’s positive outlook, trading near $2,400 and $1.35, respectively.

Week ahead – Fed’s Jackson Hole and Nvidia earnings to dictate markets

Kevin Warsh to make his Jackson Hole debut amid confusing messaging. But a major hawkish surprise unlikely after bond market intervention. Nvidia earnings to also determine market direction as stock rally cools.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.