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.

USD/JPY extends losses below 158.00 on hawkish BoJ repricing

USD/JPY extends losses below 158.00 in Asian trading on Thursday. Asian traders react negatively to the weak US ADP report, smashing the US Dollar across the board and exerting renewed selling pressure on the pair. Meanwhile, hawkish BoJ expectations and intervention risks continue to lend support to the Japanese Yen, rendering it negative for the major.

AUD/USD ranges above 0.7150 despite upbeat Chinese PMI

AUD/USD struggles to capitalize on the previous day's bounce from a nearly two-week low and ranges above 0.7150 in Asia on Thursday, as dismal Australian trade data counter upbeat China's RatingDog Services PMI. However, the pair's upside remains in check as the US Dollar stalls the weak ADP report-led slide amid escalating US-Iran tensions and firming September Fed rate-hike bets.

Gold looks to reclaim $4,450 on the road to recovery

Gold is building on its recovery from four-week troughs below $4,300, with buying aiming to recapture the key near-term resistance at around $4,450 early Thursday. Gold buyers seem to be back in the game after the daily technical setup turned in their favor after flashing bearish signals earlier in the week.

XRP defends key support, XLM awaits breakout as derivatives strengthen

Ripple (XRP) and Stellar (XLM) show divergent technical outlooks as traders assess whether the recent weakness could give way to a recovery. XRP is finding support and defining a key support zone, while XLM slips below a cluster of Exponential Moving Averages (EMAs).

Ripple defends key support; Stellar awaits breakout as derivatives strengthen

Ripple and Stellar show divergent technical outlooks as traders assess whether the recent weakness could give way to a recovery. XRP is finding support and defining a key support zone, while XLM slips below a cluster of Exponential Moving Averages.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.