Pound Sterling Price News and Forecast: GBP/USD defends the 100-day SMA, further downside still on the horizon

FXStreet Team FXStreet

GBP/USD defends the 100-day SMA, further downside still on the horizon

The GBP/USD lost ground but managed to clear losses after finding support at a daily low of 1.2615, near the 100-day Simple Moving Average (SMA) and then settling above 1.2700. Weak economic activity from the US and the UK were the main reasons for the USD and GBP trading weak agains most of their rivals in Wednesday's session. Read More...

Pound Sterling recovers as investors' risk appetite improves

The Pound Sterling (GBP) recovered due to an upbeat market mood while the broader bias remains bearish as S&P Global reported vulnerable preliminary PMI data for August. Earlier, the GBP/USD pair dropped vertically as the UK Manufacturing PMI dropped significantly to 42.5 from estimates of 45.0 and the prior release of 45.3. This has been the lowest factory data figure since the pandemic period, which demonstrates the consequences of higher interest rates by the Bank of England (BoE). Additionally, Services PMI shifted into the contraction phase below the 50.0 threshold. The economic data landed at 48.7, lower than estimates of 50.8 and July’s reading of 51.3. Read More...

GBP/USD faces extra consolidation near term – UOB

Further side-lined trading appears likely in GBP/USD in the near term, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Read More...

GBP/USD

Overview
Today last price	1.2723
Today Daily Change	-0.0009
Today Daily Change %	-0.07
Today daily open	1.2732

Trends
Daily SMA20	1.2754
Daily SMA50	1.2795
Daily SMA100	1.2634
Daily SMA200	1.2388

Levels
Previous Daily High	1.28
Previous Daily Low	1.2718
Previous Weekly High	1.2788
Previous Weekly Low	1.2617
Previous Monthly High	1.3142
Previous Monthly Low	1.2659
Daily Fibonacci 38.2%	1.275
Daily Fibonacci 61.8%	1.2769
Daily Pivot Point S1	1.27
Daily Pivot Point S2	1.2668
Daily Pivot Point S3	1.2618
Daily Pivot Point R1	1.2782
Daily Pivot Point R2	1.2832
Daily Pivot Point R3	1.2864

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 revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold bounces off $4,425 on US Dollar pullback

Gold recovers slightly from a one-and-a-half-week low near $4,425 in the Asian session on Monday, though any meaningful recovery seems elusive. Fed Chair Kevin Warsh’s Jackson Hole speech was perceived as hawkish, raising expectations for a September rate hike. Adding to this, fresh US strikes on Iran act as a tailwind for the safe-haven US Dollar and should cap the bullion.

Week ahead: RBNZ and BoC decide on rates ahead of all-important US NFP

The US dollar staged a modest recovery this week, perhaps as traders decided to cover some of their short positions amid slightly stickier or in-line US PCE inflation numbers for July, confounding expectations of softer prints amid the softness revealed in the CPI data for the month.

US Dollar Weekly Forecast: Focus is back on 100.00 as Fed hawks take centre stage

It has already been a positive week for the US Dollar, but a hawkish speech from Chair Kevin Warsh at the Jackson Hole Symposium may have laid the groundwork for a more sustained rebound in the Buck.

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.