Pound Sterling Price News and Forecast: GBP/USD cable eases after mixed UK data

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling could extend correction once below 1.2350

After having touched its highest level since late January at 1.2423 in the Asian session on Friday, GBP/USD has reversed its direction and declined below 1.2400. The pair closes in on key support level that aligns at 1.2350. The Personal Consumption Expenditures (PCE) Price Index data from the US will be watched closely by market participants. It's also worth noting that the market volatility is likely to pick up later in the day amid month and quarter-end flows. Read more...

GBP/USD outlook: Cable eases after mixed UK data, but larger bulls are still intact

Cable eases from new 2-month high in early European trading on Friday, as markets digest mixed data.

UK Q4 GDP ticked above expectations, signaling that the economy started to gain traction after contracting in the third quarter and current account gap narrowed significantly, but house price index came well below expectations, partially offsetting positive impact. Read more...

GBP/USD will likely simply track EUR/GBP and make its way slowly back to 1.30 – SocGen

Calmer times for Sterling. Economists at Société Générale expect GBP/USD to track EUR/GBP and move gradually higher toward 1.30.

“Since the start of November, Sterling has tracked five-year yield differentials, with a narrowing in the UK-German spread of nearly 110 bps in November-January taking EUR/GBP from 0.86 to almost 0.90.” Read more...

GBP/USD

Overview
Today last price	1.2383
Today Daily Change	-0.0005
Today Daily Change %	-0.04
Today daily open	1.2388

Trends
Daily SMA20	1.2149
Daily SMA50	1.215
Daily SMA100	1.2125
Daily SMA200	1.1895

Levels
Previous Daily High	1.2393
Previous Daily Low	1.2294
Previous Weekly High	1.2344
Previous Weekly Low	1.2167
Previous Monthly High	1.2402
Previous Monthly Low	1.1915
Daily Fibonacci 38.2%	1.2355
Daily Fibonacci 61.8%	1.2332
Daily Pivot Point S1	1.2324
Daily Pivot Point S2	1.2259
Daily Pivot Point S3	1.2225
Daily Pivot Point R1	1.2423
Daily Pivot Point R2	1.2458
Daily Pivot Point R3	1.2522

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 clings to daily gains near 1.3350

GBP/USD holds just in positive territory around 1.3350 on Friday as the Greenback keeps a vacillating price action. With Fed rate hike expectations easing and US markets closed for the Independence Day holiday, Cable remains on track to post solid weekly gains.

EUR/USD remains sidelined around 1.1440

EUR/USD holds on to its recent gains and consolidates around 1.1440 at the end of the week as the US Dollar lacks clear direction. In the meantime, trading conditions remain subdued, with volatility constrained by the closure of US markets for the Independence Day holiday.

Gold flirts with two-week highs, targets $4,200

Gold extends its recovery for a third straight day, advancing toward the $4,200 mark per troy ounce on Friday. The precious metal looks set to snap a four-week losing streak as softer-than-expected June US NFP data prompt investors to scale back expectations of further Fed tightening.

Crypto Today: Bitcoin, Ethereum, XRP advance amid renewed capital inflows

Bitcoin maintains its upward momentum, holding above the $61,000 mark at the time of writing on Friday. Major altcoins such as Ethereum and Ripple are also posting gains, signaling a modest uptick in market sentiment and renewed risk appetite among investors.

The Iran war failed to trigger a recession. Can the US economy keep defying expectations?

Nearly four months after the start of the Iran war, the US economy remains remarkably resilient. While the conflict initially triggered a severe disruption to global energy markets and a sharp rise in Oil prices, recent diplomatic progress between Washington and Tehran has eased concerns about a prolonged supply shock.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.