Pound Sterling Price News and Forecast: GBP/USD climbs towards 1.2800 as technicals suggest a pullback

FXStreet Team FXStreet

GBP/USD Price Analysis: Climbs towards 1.2800 as technicals suggest a pullback

The Pound Sterling climbed 0.30% against the Greenback on Monday amid thin liquidity conditions in observance of UK and US holidays. At the time of writing, the GBP/USD trades at 1.2772 after hitting a daily low of 1.2728. Read More...

Pound Sterling posts fresh two-month high amid soft US Dollar

The Pound Sterling (GBP) rises to near 1.2750 against the US Dollar (USD) in Monday’s New York trading session. The GBP/USD pair remains firm as bets supporting the Bank of England (BoE) reducing interest rates from the June meeting have diminished due to a slower-than-expected decline in the United Kingdom’s (UK) consumer inflation for April. Read More...

GBP/USD rises to near 1.2750 despite diminishing expectations for Fed rate cuts

GBP/USD advances for the second successive session, trading around 1.2740, near two-month highs, during the Asian hours on Monday. The appreciation in the GBP/USD could be attributed to the risk-on sentiment, despite diminishing expectations for Federal Reserve interest rate cuts. It is worth noting that the UK market will be closed due to the Spring Bank Holiday and the US market will be closed due to the Memorial Day bank holiday on Monday. Read More...

GBP/USD

Overview
Today last price	1.2776
Today Daily Change	0.0038
Today Daily Change %	0.30
Today daily open	1.2738

Trends
Daily SMA20	1.2603
Daily SMA50	1.2581
Daily SMA100	1.2633
Daily SMA200	1.2541

Levels
Previous Daily High	1.2751
Previous Daily Low	1.2676
Previous Weekly High	1.2761
Previous Weekly Low	1.2676
Previous Monthly High	1.2709
Previous Monthly Low	1.23
Daily Fibonacci 38.2%	1.2722
Daily Fibonacci 61.8%	1.2705
Daily Pivot Point S1	1.2692
Daily Pivot Point S2	1.2646
Daily Pivot Point S3	1.2617
Daily Pivot Point R1	1.2767
Daily Pivot Point R2	1.2797
Daily Pivot Point R3	1.2842

Author

FXStreet Team

FXStreet

EUR/USD looks weak below 1.1800

EUR/USD has slipped back under pressure, breaking through the 1.1800 support and drifting towards the weekly lows near 1.1770 ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with steady geopolitical tensions keeping its demand firm. Moving forward, the release of the German labour market report and flash inflation figures should keep European investors entertained on Friday.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.