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

FXStreet Team FXStreet

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...

GBP/USD

Overview
Today last price	1.2716
Today Daily Change	-0.0036
Today Daily Change %	-0.28
Today daily open	1.2752

Trends
Daily SMA20	1.2695
Daily SMA50	1.2555
Daily SMA100	1.2448
Daily SMA200	1.254

Levels
Previous Daily High	1.2767
Previous Daily Low	1.2674
Previous Weekly High	1.2771
Previous Weekly Low	1.2611
Previous Monthly High	1.2828
Previous Monthly Low	1.2501
Daily Fibonacci 38.2%	1.2731
Daily Fibonacci 61.8%	1.2709
Daily Pivot Point S1	1.2695
Daily Pivot Point S2	1.2637
Daily Pivot Point S3	1.2601
Daily Pivot Point R1	1.2788
Daily Pivot Point R2	1.2825
Daily Pivot Point R3	1.2882

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.

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