Pound Sterling Price News and Forecast: GBP/USD consolidates around 1.2750 [Video]

GBP/USD gains some confidence for new higher high [Video]

GBPUSD stepped on the 20-day simple moving average (SMA) and climbed back above the broken short-term support trendline from October at 1.2720, reviving hopes that the soft four-day bullish wave could gain extra legs in the coming sessions. Read more...

GBP/USD Price Analysis: Consolidates around 1.2750 followed by a barrier at 21-day EMA

GBP/USD halts a four-day winning streak, trading lower near 1.2750 during the early European session on Tuesday. The GBP/USD pair is at a critical juncture, and the possibility of a break below the major level raises the potential for further downward pressure. The 21-day Exponential Moving Average (EMA) at 1.2684 serves as an immediate support level to monitor.

A breach below the 21-day EMA could signal increased selling pressure, and the pair might then approach the major support at 1.2650. This level, aligned with the 23.6% Fibonacci retracement at 1.2643, adds technical significance to the support zone. Read more...

GBP/USD extends its upside above the mid-1.2700s on the risk-on sentiment

The GBP/USD pair traded in positive territory for the fifth consecutive day during the early Asian trading hours on Tuesday. Positive risk-on sentiment and a slight decline in the US Dollar (USD) are supporting the major pair's uptick. At press time, GBP/USD is trading at 1.2759, up 0.05% on the day.

The US labor data last week weakened the Federal Reserve's (Fed) case for rate cuts. Traders are pricing in around 62% odds of rate cuts in the March meeting, according to the CME Fedwatch tool. The New York Fed's 1-year inflation expectations came in at 3.01% versus 3.36% prior. Read more...