Pound Sterling Price News and Forecast: GBP/USD climbs above 1.2600, driven by optimistic UK data

FXStreet Team FXStreet

GBP/USD hits 12-week high amid positive data

The Pound Sterling (GBP) advances to a new 12-week high against the US Dollar (USD) courtesy of better-than-expected data revealed on Thursday, which sparked a sell-off of Gilts; consequently, UK bond yields rose. The GBP/USD is trading at 1.2606 after hitting a high of 1.2615.

S&P Global revealed that business activity in the United States (US) remains solid after the Services and Composite PMIs exceeded forecasts. Nevertheless, the Manufacturing PMI slipped below the 50 expansion/contraction threshold, painting a mixed scenario for the economy. In the next week, the Institute for Supply Management (ISM) will update the readings for December. Read more...

GBP/USD looks poised to extend its rebound – Scotiabank

Sterling a moderate outperformer on the day. Economists at Scotiabank analyze GBP’s outlook. Read more...

GBP/USD

Overview
Today last price	1.26
Today Daily Change	0.0066
Today Daily Change %	0.53
Today daily open	1.2534

Trends
Daily SMA20	1.2334
Daily SMA50	1.226
Daily SMA100	1.2501
Daily SMA200	1.2453

Levels
Previous Daily High	1.2576
Previous Daily Low	1.2489
Previous Weekly High	1.2506
Previous Weekly Low	1.2213
Previous Monthly High	1.2337
Previous Monthly Low	1.2037
Daily Fibonacci 38.2%	1.2543
Daily Fibonacci 61.8%	1.2522
Daily Pivot Point S1	1.249
Daily Pivot Point S2	1.2446
Daily Pivot Point S3	1.2403
Daily Pivot Point R1	1.2577
Daily Pivot Point R2	1.262
Daily Pivot Point R3	1.2664

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 loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

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

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